JKL Corporation is engaged in the trading business and is designing its master budget for the next operating quarter from April to June 20xx. The data collected and necessary to work with such a budget are the following:
A. Certain data of the Statement of Position (Balance Sheet) as of March 31, 20xx:

Dr Cr
Cash $20,000 (DR)
Accounts receivable $64,000 (DR)
Inventory $15,400 (DR)
Buildings and equipment (net of depreciation) $225,000 (DR)
Accounts payable $23,400 (CR)
Long-term debts $90,000 (CR)
Common shares- principal $150,000 (CR)
Retained Earnings $61,000 (CR)
Totals $324,400 (DR) $324,400 (CR)

B. The projected and actual sales for various months of 20xx are:
March (reals) $80,000
April $83.400
May $69,500
June $82,900
July $64,600

C. Other important data:
1- Monthly sales are 20% cash and 80% credit. Credit sales from the previous month are collected in full in the following month (therefore, what is in accounts receivable at the end of March is 80% of March sales).
2- The gross profit margin generated by the corporation on its sales is 38%.
3- Each month's ending inventory is equal to 25% of the next month's budgeted cost of sales.
4- 40% of monthly merchandise purchases are paid in the month of purchase and the remainder in the month following the purchase.
5- Expected monthly expenses are: salaries, $10,200; advertising, $6,300 per month; and remaining expenses (except depreciation) represent 8% of sales. Assume that these expenses are paid every month (nothing is due at the end of the month).
6- Depreciation expense is $10,000 for the quarter and includes the portion that corresponds to assets acquired during the period.
7- Equipment was purchased in cash: $25,200 in April and $19,100 in May 20xx.
8- Management wants to maintain a minimum cash balance at the end of each month of $8,000.
9- When the company has a need for cash, it can borrow from a local bank in $1,000 increments at the beginning of each month up to a borrowing ceiling of $20,000. The interest rate the bank charges on these loans is 1% per month and the interest is paid the next month (we presume that it is not compound interest and that each loan is made at the end of the month). The company paid dividends of $5,200 in June.

Carefully read the financial and operational data for JKL Corporation given below and use it to prepare the budget for:
- Sales collections for the quarter
- Purchases for the quarter
- Purchase disbursements for the quarter
- Selling and administrative expense disbursements for the quarter