Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2019:

Here are some important figures from the budget of Cornell, Inc., for the second quar of 2019: April May June $313,000 $293,000 $353,000 121,000 144,000 169,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 43,300 10,300 73,000 10,800 10,300 136,000 62,300 10,300 The company predicts that 5 percent of its credit sales will never be collected, percent of its sales will be collected in the month of the sale, and the remaining percent will be collected in the following month. Credit purchases will be paid in t month following the purchase. In March 2019, credit sales were $183,000, and credit purchases were $123,000. Usi this information, complete the following cash budget. (Do not round intermedia calculations and round your answers to the nearest whole number, e.g., 32.) Answer is complete but not entirely correct. April May June Beginning cash balance $ 116,000 $ 98,750 $ 109,000 Cash receipts Cash collections from credit sales 140,850 X 156,500 146,500 Total cash available $ 348,350 $ 387,100 $ 414,350 Cash disbursements Purchases $ 123,000 $ 121,000 $ 144,000 Wages, taxes, and expenses 43,300 10,800 62,300 Interest 10,300 10,300 10,300 Equipment purchases 73,000 136,000 0 Total cash disbursements $ 249,600$ 278,100 $ 216,600 Ending cash balance $ 98,750 109,000 $ 197.750 Here are some important figures from the budget of Cornell, Inc., for the second quar of 2019: April May June $313,000 $293,000 $353,000 121,000 144,000 169,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases 43,300 10,300 73,000 10,800 10,300 136,000 62,300 10,300 The company predicts that 5 percent of its credit sales will never be collected, percent of its sales will be collected in the month of the sale, and the remaining percent will be collected in the following month. Credit purchases will be paid in t month following the purchase. In March 2019, credit sales were $183,000, and credit purchases were $123,000. Usi this information, complete the following cash budget. (Do not round intermedia calculations and round your answers to the nearest whole number, e.g., 32.) Answer is complete but not entirely correct. April May June Beginning cash balance $ 116,000 $ 98,750 $ 109,000 Cash receipts Cash collections from credit sales 140,850 X 156,500 146,500 Total cash available $ 348,350 $ 387,100 $ 414,350 Cash disbursements Purchases $ 123,000 $ 121,000 $ 144,000 Wages, taxes, and expenses 43,300 10,800 62,300 Interest 10,300 10,300 10,300 Equipment purchases 73,000 136,000 0 Total cash disbursements $ 249,600$ 278,100 $ 216,600 Ending cash balance $ 98,750 109,000 $ 197.750