I have already completed Requirement 1 i really dont inderstand how to do Requirement 2

a. On April 1, the start of the loan period, the cash balance will be $42,600. Accounts recelvable on April 1 will total $184,800,0 which $158,400 will be collected during April and \$21,120 will be collected during May. The remainder will be uncollectible. b. Past experience shows that 30% of a month's sales are collected in the month of sale, 60% in the month following sale, and 8% in the second month following sale. The other 2% is bad debts that are never collected. Budgeted sales and expenses for the threemonth period follow: c. Merchandise purchases are paid in full during the month following purchase. Accounts payable for merchandise purchases during March, which will be paid in April, total $180,000. d. In preparing the cash budget, assume that the $75,000 loan will be made in April and repaid in June. Interest on the loan will total $1,100. Required: 1. Calculate the expected cash collections for April, May, and June, and for the three months in total 2. Prepare a cash budget, by month and in total, for the three-month period. Complete this question by entering your answers in the tabs below. Prepare a cash budget, by month and in total, for the three-month period. (Cash doficiency, frepayments and interest should be indicated by a minus sign.)