need help with total cash available and excess of cash available over needs

Cash Budget The owner of a building supply company has requested a cash budget for June. After examining the records of the company, you find the following: a. Cash balance on June 1 is $1,336. b. Actual sales for April and May are as follows: April May Cash sales $10,000 $18,000 Credit sales 28,900 35,000 Total sales $38,900 $53,000 c. Credit sales are collected over a 3-month period: 40% in the month of sale, 30% in the second month, and 20% in the third month. The sales collected in the third month are subject to a 2% late fee, which is paid by those customers in addition to what they owe. The remaining sales are uncollectible. d. Inventory purchases average 68% of a month's total sales. Of those purchases, 20% are paid for in the month of purchase. The remaining 80% are paid for in the following month. e. Salaries and wages total $11,750 per month, including a $4,500 salary paid to the owner. 1. Rent is $4,600 per month g. Taxes to be paid in June are $6,780. The owner also tells you that he expects cash sales of $18,600 and credit sales of $54,000 for June. No minimum cash balance is required. The owner of the company doesn't have access to short-term loans. Required: 1. Prepare a cash budget for June. Include supporting schedules for cash collections and cash payments. Round calculations and final answers to the nearest dollar. Be sure to enter percentages as whole numbers. Cash Budget For June Beginning cash balance 1,336 Collections: Cash sales 18,600 Credit sales: Check My Work Previous Next For June S 1,336 Beginning cash balance Collections: 18,600 Cash sales Credit sales: Current month 54,000 x 40 % 21,600 May credit sales 35,000 x 30 % 10,500 5,896 April credit sales Total cash available I 47,432 X Less disbursements: Inventory purchases: Current month 49,368 x 20 % 9,874 Prior month 36,040 x 80 % 28,832 Salaries and wages 11,750 Rent Taxes 4,600 Total cash needs 6,780 Excess of cash available over needs 61,836 0 Check My Work All work saved Previous N. Emall Instrumi