How do I prepare a cash budget from the budgeted transactions?

Question 3 Partially correct Mark 0.27 out of 1.00 P Flag question Prepare Cash Budget from Budgeted Transactions Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $94,000 on May 1, 2019. The following budgeted transactions for May 2019 present data related to anticipated cash receipts and cash disbursements: 1. For May, budgeted cash sales are $70,000 and budgeted credit sales are $510,000. (Credit sales for April were $450,000.) In the month of sale, 40% of credit sales are collected, with the balance collected in the month following sale. 2. Budgeted merchandise purchases for May are $290,000. (Merchandise purchases in April were $240,000.) In the month of purchase, 70% of merchandise purchases are paid for, and the balance is paid for in the following month. 3. Budgeted cash disbursements for salaries and operating expenses for May total $175,000. 4. During May, $25,000 of principal repayment and $4,000 of interest payment are due to the bank. 5. A $20,000 income tax deposit is due to the federal government during May. 6. A new delivery truck will be purchased during May for $8,000 cash and an $8,000 note payable. Depreciation for May will be $550. Prepare a cash budget for Campton Company for the month of May 2019. Campton Company Cash Budget For the Month Ended May 31, 2019 Beginning cash balance 94,000 Cash receipts: Cash sales 70,000 Collections on credit sales 474,000 Cash available 5 O X Cash disbursements Payments for merchandise O X Salaries and operating expense payments OX Principal and interest payment Income tax deposit O X Payment on truck OX Total cash disbursements 3 Ox Ending cash balance O X Check