RE TH QUESTION 4 York Inc. provides you with the following budgeted information: May June July Sales $510,000 $450,000 $550,000 Manufacturing Costs $150,000 $280,000 $250,000 CAPEX (properties and machines) $400,000 $120,000 General & Admin costs (excludes depreciation) $70,000 $210,000 $100,000 (C) material. Copyrighted not to be posted on Chege or shared on the internet Expectations Cash sales represent 10% of total sales. 70% of the credit sales is collected in the month of sale and the remaining 30% will be collected in the following month. (C) material. Copyrighted not to be posted on chegg or shared on the internet The credit sales of April amounted to $400,000. 60% of any month's capital expenditures is to be paid at the end of the month. The remainder is to be paid in the following month. Manufacturing and general and administration costs are to be paid in the month in which they are incurred. (C) material. Copyrighted not to be posted on chegg or shared on the internet Dividends of $3,000 are expected to be declared in June and paid in July. Mac Inc. must have at least a $10,000 cash balance at the end of each month. Excess cash over the required minimum cash balance has to be used towards paying off any outstanding notes payable. Ignore interests on notes payable. The balance of the note payable as of May 1 is $0. The balance of cash as of May 1 is $15,000. . . PREPARE a cash budget on a monthly basis (May, June, July) as well as for the quarter