JAMES Trading expects its June sales to be P300 000, which is 25% higher that its May sales. Purchases were P200 000 in May and are expected to be P240 000 in June. All sales are on credit and are collected as follows: 80% in the month of the sale and 20% in the following month. All payments in the month of sales are given 2% discount. Sixty percent of purchases are paid in the month of purchase to take advantage of the purchase term 1/10, n/40. The remaining amount is paid in the following month. The beginning cash balance on June 1 is P20 000. Determine the following 10. Cash receipts for the month of June 11. Cash disbursement for the month of June 12. Ending cash balance on June 30