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Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2016: April May June Credit sales $ 316,000 $

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

April May June
Credit sales $ 316,000 $ 296,000 $ 356,000
Credit purchases 124,000 147,000 172,000
Cash disbursements
Wages, taxes, and expenses 43,600 11,100 62,600
Interest 10,600 10,600 10,600
Equipment purchases 76,000 142,000 0

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 2016, credit sales were $186,000, and credit purchases were $126,000. 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.)

April May June
Beginning cash balance $ 119,000 $ $
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 $ $ $

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