Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2017:

	April			May			June
Credit sales	$	315,000		$	295,000		$	355,000
Credit purchases		123,000			146,000			171,000
Cash disbursements
Wages, taxes, and expenses		43,500			11,000			62,500
Interest		10,500			10,500			10,500
Equipment purchases		75,000			140,000			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 2017, credit sales were $185,000, and credit purchases were $125,000. Using this information, complete the following cash budget. (Do not round intermediate calculations.)

April. May June

Beginning Cash Balance $118,000 $___________ $______________

Cash Receipts:

Cash Collections From Credit Sales $__________ $______________ $______________

Total Cash Available $__________ $_______________ $_______________

Cash Disbursements:

Purchases $__________ $________________ $________________

Wages, Taxes, Expenses $__________ $________________ $________________

Interest $___________ $________________ $________________

Equipment Purchases $___________ $________________ $_________________

Total Cash Disbursements $___________ $________________. $_________________

Ending Cash Balance $___________ $________________ $_________________