Lois Bragg owns a small restaurant in Boston. Ms. Bragg provided her accountant expectations for the month of June. The balance in accounts receivable as of May 31 is $58.000 June are $146.000 and $600.000, respecti percent of credit sales is collected in the month of sale, and the remainder is collected in the not extend credit. Consequently, she pays suppliers on the last day of the month Cash payments for June are expected to be $704.000. Ms. Bragg has a line of credit that enables the restaurant to borrow funds on demand: however. they must be the last day of the month. Interest is paid in cash also on the last day of the month. Ms. Bragg desires to maintain a $36,000 balance before the interest payment. Her annual interest rate is 11 percent with the . Budgeted ively. Credit sales are made through Visa and MasterCard and are co cash and credit sales for rapidly. Sixty on cash Required a. Compute the amount of funds Ms. Bragg needs to borrow for June b. Determine the amount of interest expense the restaurant will report on the June pro forma income statement c. What amount will the restaurant report as interest expense on the July pro forma income statement? (Round your answer to 2 declmal places.) to be expense (June)