Prepare Cash Budget from Budgeted Transactions

Prepare a cash budget for the month ended May $31.$ Campton Company anticipates a cash balance of $$79,000$ on May $1.$ The following budgeted transactions for May present data related to anticipated cash receipts and cash disbursements:

For May, budgeted cash sales are $$55,000$ and budgeted credit sales are $$495,000.($Credit sales for April were $$450,000.)$ In the month of sale, $40\%$ of credit sales are collected, with the balance collected in the month following sale.

Budgeted merchandise purchases for May are $$275,000.($Merchandise purchases in April were $$240,000.)$ In the month of purchase, $70\%$ of merchandise purchases are paid for, and the balance is paid for in the following month.

Budgeted cash disbursements for salaries and operating expenses for May total $$160,000.$

During May, $$25,000$ of principal repayment and $$4,000$ of interest payment are due to the bank.

A $$20,000$ income tax deposit is due to the federal government during May.

A new delivery truck will be purchased during May for $$5,000$ cash and an $$8,000$ note payable. Depreciation for May will be $$475.$

Prepare a cash budget for Campton Company for the month of May.

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