Prepare a cash budget for the months of April, May, June, and July, for the following.

The ending cash balance in March is 20,000, and the company desires to maintain 10,000 as a minimum cash balance. 

Collections from customers are 46000, 8000, 68000, and 540005 respectively for the budgeted months. Payments for merchandise are 42700, 48300, 40600, and 329005. Payments for operating expenses are 13,750, 18250, 18000, and 15250. 

New fixtures were acquired in April for 30005. Borrowing occurs at the beginning of the month, while repayments at the end of the month in question, the company pays interest in cash at the time it repays the related loan. Also borrowing and repayments of principal are made of multiples of 1000$ and interest 12% annually.