Here are some important figures from the budget of Cornell Inc., for the second quarter of 2013 May $547,200 $570,240 $630,720 April June Credit sales Credit purchases Cash disbursements 211,680 252,720 288.450 Wages, taxes, and expenses Interest 57,240 69,422 72,432 16,416 16.416 16.416 19,520 131,040 Equipment purchases 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 2013, credit sales were $302,400, and credit purchases were $224,640. Use the above information to complete the following cash budget. (Do not round intermediate calculations. Leave no cells blank be certain to enter "o" wherever required.) April May Beginning cash balance Cash roceipts 403.200 $ Cash colections from credit sales Total cash available Cash disbursements Payment of accounts payable Wages, taxes, and expenses Interest Equipment purchasers Total cash disbursements Ending cash balance