Ivanhoe Design provided the following budgeted information for April through July: April May July Projected sales $112320 $132840 $124200 $142560 Projected merchandise purchases $88560 $99360 $84240 $71280 June The cash balance on June 1 is $12960. The company pays 40% of merchandise purchases in the month purchased and 60% in the following month. General operating expenses are budgeted to be $33480 per month of which depreciation is $3240 of this amount. Management pays operating expenses in the month incurred. The company makes loan payments of $4320 per month of which $648 is interest and the remainder is principal. How much are budgeted cash disbursements for June? $111024. $127872. $68256. O $93312