Problem $4-30$ Electronics Company's actual sales and purchases for April and May are shown here $,$ along with forecasted sales and purchases for June through September April $($ actual $)$ May $($ actual $)$ June $($ forecast $)$ July $($ forecast $)$ August $($ forecast $)$ September $($ forecast $)$ Sales $ $460,000440,000415,000415,000430,000470,000$ Purchases $ $144,000134,000134,000194,000214,000184,000$ The company makes $30$ percent of its sales for cash and $70$ percent on credit $.$ Of the credit sales $,40$ percent are collected in the month after the sale and $60$ percent are collected two months after $.$ Ellis pays for $30$ percent of its purchases in the month after purchase and $70$ percent two months after Labour expense equals $25$ percent of the current month's sales $.$ Overhead expense equals $ $13,400$ per month Interest payments of $ $37,000$ are due in June and September A cash dividend of $ $57,000$ scheduled to be paid In June $.$ Tax payments of $ $26,400$ are due June and September $.$ There is a scheduled capital outlay of $ $440,000$ September Electronics $\text{'}$ ending cash balance in May $ $27,000.$ The minimum desired cash balance is $ $22,000$ Prepare a schedule of monthly cash receipts for June through September Ellis Electronics Cash Receipts Schedule May June April July August September SalesCredit sales Cash sales Collections in month after sale Collections second month after sale Total cash receipts.b $.$ Prepare the monthly cash payments for June through September Electronics Cash Payments Schedule May April June July August September PurchasesPayments in the month after purchase Payments second month after purchase Labour expense Overhead Interest payments Cash dividend Taxes Capital outlay Total cash payments $.$ Prepare a complete monthly cash budget with borrowing and repayments for June through September The maximum desired cash balance is $ $51,400$ Excess cash $($ above $ $51,400)$ used to buy marketable securities Marketable securities are sold before borrowing funds in case of a cash shortfall $($ less than $ $22,000)($ Omit sign in your response $.$ Do not leave any empty spaces ; Input wherever required $.$ Negative answers and amounts to be deducted should be indicated by a minus sign $.)$ Electronics Cash Budget June July August September Cash receipts Cash payments Net cash flow Beginning cash balance Cumulative cash balance Monthly borrowing or $($ repayment $)$ Cumulative loan balance Marketable securities purchased Marketable securities sold Cumulative marketable securities Ending cash balance.