Oui-Got Stuff is preparing its budget for the coming year. Below is information about the 2^nd quarter, which is not yet finished.

The budgeted income statement for the 2^nd quarter is:

Oui-Got Stuff, Inc. Budgeted Income Statement For the 2nd Quarter Ended 200x
	April	May	June
Sales	$ 22,000	$ 25,000	$28,000
Cost of goods sold	11,000	13,000	16,000
Gross profit	11,000	12,000	12,000
Less:
Selling expenses	2,300	3,000	3,400
Administrative expenses	2,600	3,000	3,200
Total	4,900	6,000	6,600
Net income	$ 6,100	$ 6,000	$ 5,400

Oui-Got Stuff has also completed the purchases budget, as follows:

Oui-Got Stuff, Inc. Purchases Budget For the 2nd Quarter Ended 200x
	April	May	June
Budgeted cost of goods sold	$ 11,000	$ 13,000	$ 16,000
Plus: desired ending inventory	3,250	4,000	5,250
Total inventory needs	14,250	17,000	21,250
Less: beginning inventory	(2,500)	(3,250)	(4,000)
Budgeted purchases	$ 11,750	$ 13,750	$ 17,250

The company needs to prepare its budgeted cash receipts, budgeted cash payments for purchases, and monthly cash budget schedules for April, May and June.

The following additional information is available:

Budgeted Income statement for July 200x:

	July
Sales	$ 32,000
Cost of goods sold	21,000
Gross profit	11,000
Less:
Selling expenses	4,200
Administrative expenses	3,600
Total	7,800
Net income	$ 3,200

75% of monthly sales are on account (i.e., for credit).The remainder is for cash.

Credit sales are collected as follows:

15% in the month of credit sales

55% in the month following the credit sales

The remainder in the 2^nd month following the credit sales

Total budgeted sales for February are $15,000.

Total budgeted sales for March are $16,000.

Oui-Got assumes it would pay for budgeted purchases 50% in the month of purchase and 50% in the month following the purchase.

Budgeted purchases for March are $12,000.

For the months of April and May, the company must make a $5,000 payment for an outstanding bank note.

Oui-Got must maintain a cash balance of at least $5,000 at the end of each month.

The budgeted cash balance at April 1 is $5,100.

When ending cash balances are less than $5,000, they make a short-term borrowing from their local bank.However, all borrowings must be made in multiples of $100.These short-term loans are repaid at the end of the year, which is December 31^st.

Required

Prepare a monthly schedule of budgeted operating cash receipts for April, May, and June.

Prepare a monthly schedule of budgeted cash payments for purchases for April, May, and June.

Prepare a monthly cash budget for April, May, and June.Show borrowings from the companys local bank as needed to maintain the minimum cash balance.