Nintendo Products sells video games and shares the following expectations for the month of June:

Cash Balance at the end of the year is $5.500

Budgeted cash receipts for June are $16,875

Budgeted cash payments for June are $34,850

Nintendo Products has a line of credit that enables the company to borrow funds when needed. Funds must be borrowed on the first day of the month and repaid on the last day of the month. Ignore interest for simplicity.

Nintendo Products has a minimum desired cash balance of $5,000 for each month.

Show all calculations for credit.

a. Prepare the June cash budget for Nintendo Products. You may abbreviate, but make sure it is understandable.