Maxwell Howard, an accountant for Xacto Company has prepared the following sales and cash disbursement estimates for the period February$-$June of the current year. Assumption$($s$)$ Month Sales Cash Disbursements February $$550$ $$470$ March $675390$ April $450655$ May $275575$ June $250295$ Percentage of sales in cash is $30\%$ Of credit sales $70\%$ are collected $1$ month after the sale $49\%$ and the remaining $30\%$ are collected $2$ months after the sale $21\%$ Minimum ending balance to be maintained in cash account is $$40$ Balances above this minimum amount would be invested in short$-$term government securities $($marketable securities$).$ Deficits would be financed through short$-$term bank borrowing $($notes payable$)$ The beginning cash balance at April $1$ is $$125\mathrm{.}0$Maxwell Howard, an accountant for Xacto Company has prepared the following sales and cash disbursement estimates for the period February$-$June of the current year. Assumption$($s$)$ Month Sales Cash Disbursements February $$550$ $$470$ March $675390$ April $450655$ May $275575$ June $250295$ Percentage of sales in cash is $30\%$ Of credit sales $70\%$ are collected $1$ month after the sale $49\%$ and the remaining $30\%$ are collected $2$ months after the sale $21\%$ Minimum ending balance to be maintained in cash account is $$40$ Balances above this minimum amount would be invested in short$-$term government securities $($marketable securities$).$ Deficits would be financed through short$-$term bank borrowing $($notes payable$)$ The beginning cash balance at April $1$ is $$125\mathrm{.}00$