Prepare a cash budget for each of the months of Aphi, nearest whole dollar.) CASTOR, INC. Cash Budget For April, May, and June June May April 12,300 $ Beginning cash balance Total cash available Cash payments for Total cash payments Preliminary cash balance Ending cash balance Loan balance April May June Loan balance -Beginning of month $ 2,300 Additional loan (loan repayment) Loan balance - End of month Castor, Inc., is preparing its master budget for the quarter ended June 30. Budgeted sales and cash payments for merchandise for the next three months follow: April $31,700 June Budgeted May $40,300 $24,300 16,900 Sales 16,500 20,800 Cash payments for merchandise Sales are 60% cash and 40 % on credit. All credit sales are collected in the month following the sale. The March 31 balance sheet includes balances of $12,300 in cash, $12,300 in accounts receivable, $11,000 in accounts payable, and a $2,300 balance in loans payable. A minimum cash balance of $12,300 is required. Loansare obtained at the end of any month when a cash shortage occurs. Interest is 2 % per month based on the beginning of the month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and include sales commissions (5% of sales), shipping (3% of sales), office salaries ($3,300 per month), and rent ($5,300 per month). Prepare a cash budget for each of the months of April, May, and June. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) CASTOR, INC. Cash Budget For April, May, and June April May June Beginning cash balance $ 12,300 Total cash available Cash payments for