Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2017 April $316,000 124,eee May $296,000 147,eee June $356, eee 172,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 43,600 10,600 76, eee 11, 100 10,600 142,808 62,600 10,6ee 8 $ The company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of the sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2017, credit sales were $186,000, and credit purchases were $126,000. Using this information, complete the following cash budget (Do not round Intermediate calculations.) April May June Beginning cash balance 119,00 $ Cash receipts Cash collections from credit sales Total cash available $ Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases $ Total cash disbursements Ending cash balance $ $ $ $ $ $ $ 5