Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2017:

AprilMayJuneCredit sales$312,000$292,000$352,000Credit purchases120,000143,000168,000Cash disbursementsWages, taxes, and expenses43,20010,70062,200Interest10,20010,20010,200Equipment purchases72,000134,0000

The company predicts that 5 percent of its credit sales will never be collected, 40 percent of its sales will be collected in the month of the sale, and the remaining 55 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 $182,000, and credit purchases were $122,000. Using this information, complete the following cash budget.(Do not round intermediate calculations.)

AprilMayJuneBeginning cash balance$115,000$92500

92500 Correct

$106000

106000 Correct

Cash receiptsCash collections from credit sales

?

124800 Incorrect

?

116800 Incorrect

?

140800 Incorrect

Total cash available$?

100100 Incorrect

$171600

171600 Incorrect

$?

160600 Incorrect

Cash disbursementsPurchases$122000

122000 Correct

$120000

120000 Correct

$143000

143000 Correct

Wages, taxes, and expenses43200

43200 Correct

10700

10700 Correct

62200

62200 Correct

Interest10200

10200 Correct

10200

10200 Correct

10200

10200 Correct

Equipment purchases72000

72000 Correct

134000

134000 Correct

0

0 Correct

Total cash disbursements$247400

247400 Correct

$274900

274900 Correct

$215400

215400 Correct

Ending cash balance$92500

92500 Correct

$106000

106000 Correct

$192000

192000 Correct