PLEASE PROVIDE CALCULATIONS. THANK YOU!

Problem 1: Cash Budget 12 points Use the following information to prepare the June cash budget for Freebird Co. It should show expected cash receipt and cash disbursements for the month and the cash balance expected on June 30. Please show your work a. Beginning cash balance on June 1: $75,000 b. Cash receipts from sales: 65% is collected in the month of sale and 35% in the next month. Sales amounts are: May (actual) $1,400,000; and June (budgeted) $1,500,000. C. Payments on merchandise purchases: 70% in the month of purchase and 30% in the month following purchase. Purchases amounts are: May (actual), $700,000 and June (budgeted), $800,000. d. Budgeted cash disbursements for salaries in June: $425,000 e. Budgeted depreciation expense for June: $15,000. f. Other cash expenses budgeted for June: $165,000. g. Accrued income taxes due in June, $50,000 Bank loan interest due in June: $7,200. Freebird Company Cash Budget For month ended June 30 Beginning cash balance $75,000 Cash receipts from sales Total cash available Cash disbursements: (# of lines not necessarily # of items) Payments for merchandise Total cash disbursements Ending cash balance