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

April May June

Credit sales $ 404,000 $ 353,000 $441,000

Credit purchases 181,000 169,000 202,000

Cash disbursements

Wages, taxes, and expenses 79,900 75,400 104,100

Interest 9,600 9,600 9,600

Equipment purchases 34,000 6,500 149,000

The company predicts that 5 percent of its credit sales will never be collected, 25 percent of its sales will be collected in the month of the sale, and the remaining 70 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $331,000.

Using this information, complete the following cash budget.

April May June

Beginning Cash Balance $111,000 _______ _______

Cash Receipts

Cash collection from credit sales _____________ ________ ________

Total cash available _____________ _________ _________

Cash disbursement

Purchases 173,000 _________ _________

Wages, taxes, expenses ____________ __________ _________

Interest ____________ ___________ ___________

Equipment purchase ____________ __________ ____________

Total Cash disbursement ____________ __________ ____________

Ending cash balance ____________ __________ ____________