Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2012:

	April			May			June
Credit sales	$	324,000		$	304,000		$	364,000
Credit purchases		132,000			155,000			180,000
Cash disbursements
Wages, taxes, and expenses		44,400			11,900			63,400
Interest		11,400			11,400			11,400
Equipment purchases		84,000			158,000			0

The company predicts that 5 percent of its credit sales will never be collected, 40 percent of its sales will be collected in the month of the sale, and the remaining 55 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase.

In March 2012, credit sales were $194,000 and credit purchases were $134,000. Using this information, complete the following cash budget:

		April		May		June
Beginning cash balance	$	127,000	$		$
Cash receipts
Cash collections from credit sales
Total cash available	$		$		$
Cash disbursements
Purchases	$		$		$
Wages, taxes, and expenses
Interest
Equipment purchases
Total cash disbursements	$		$		$
Ending cash balance	$		$		$