Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April $30$ is given below:

The company is in the process of preparing a budget for May and has assembled the following data:

a$.$ Sales are budgeted at $$266,000$ for May. Of these sales, $$79,800$ will be for cash; the remainder will be credit sales. One$-$half of a month's credit sales are collected in the month the sales are made, and the remainder is collected in the following month. All of the April $30$ accounts receivable will be collected in May.

b$.$ Purchases of inventory are expected to total $$170,000$ during May. These purchases will all be on account. Forty percent of all purchases are paid for in the month of purchase; the remainder are paid in the following month. All of the April $30$ accounts payable to suppliers will be paid during May.

c$.$ The May $31$ inventory balance is budgeted at $$44,500.$

d$.$ Selling and administrative expenses for May are budgeted at $$81,900,$ exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $$6,450$ for the month.

e$.$ The note payable on the April $30$ balance sheet will be paid during May, with $$140$ in interest. $($All of the interest relates to May.$)$

f$.$ New refrigerating equipment costing $$9,600$ will be purchased for cash during May.

g$.$ During May, the company will borrow $$23,400$ from its bank by giving a new note payable to the bank for that amount. The new