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

April May June

Credit sales $412,000$361,000 $449,000

Credit purchases 189,000 177,000 210,000

Cash disbursements

Wages, taxes, and expenses 80,700 76,200 104,900

Interest 10,400 10,400 10,400

Equipment purchases 38,000 10,500 157,000

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 $339,000.

Using this information, complete the following cash budget.

April May June

Beginning cash balance $119,000

Cash receipts

Cash collections from credit sales

Total cash available

Cash disbursements

Purchases $181,000

Wages, taxes, and expenses

Interest

Equipment purchases

Total cash disbursements

Ending cash balance