Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2018: May $315,000 $295,000 $355,000 123,000 146,000 171,000 April June Credit sales Credit purchases Cash disbursements Wages, taxes, and 43,500 11,000 62,500 expenses Interest 10,500 10,500 Equipment purchases 75,000 140,000 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 2018, credit sales were $185,000 and credit purchases were $125,000. Using this information, complete the following cash budget: (Do not round Intermedlete calculatlons. Leave no cells blenk - be certaln to enter O" wherever requlred.) April May June Beginning cash balance Cash receipts 118,000 Cash collections from credit sales Total cash available Purchases Wages, taxes, and expenses Interest Total cash disbursements Ending cash balance