Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2016:

April May June $315,000 $295,000 $355,000 123,000 146,000 171,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 43,500 10,500 75,000 11,000 10,500 140,000 62,500 10,500 0 The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2016, credit sales were $185,000, and credit purchases were $125,000. Using this information, complete the following cash budget. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.16.) May June $ April 118,000 $ $ Beginning cash balance Cash receipts Cash collections from credit sales aji $ $ $ $ Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements $ $ $ $ 101 Ending cash balance $ $