Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2016: April May June Credit sales $313,000 $293,000 $353,000 Credit purchases 121,000 144,000 169 000 Cash disbursements Wages taxes, and expenses 43,300 10,800 62 300 Interest 10,300 10,300 10,300 Equipment purchases 73,000 136,000 The company predicts that 5 percent of its credit sales will never be collected, 45 percent of its sales will be collected in the month of the sale, and the remaining 50 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 $183,000, and credit purchases were $123,000. 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 116,000 $ $ Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages taxes, and expenses Interest Equipment purchases Total cash disbursements S $ S Ending cash balance $