Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2016: April May June $311,000 $291,000 $351.000 119,000 142.000 167.000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 10,600 43.100 10,100 71,000 10.100 132.000 62,100 10,100 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 $181000, and credit purchases were $121.000. 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 114,000 $ HA $ Beginning cash balance Cash receipts Cash collections from credit sales $ $ ta $ $ $ Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements $ $ $ Ending cash balance $ $ $