SABA Enterprises needs a cash budget for the month of June. The following information is available: a. The cash balance on June 1 is $4,000. b. Sales for May and June are $50,000 and $40,000, respectively. Cash collections on sales are 40 percent in the month of sale and 50 percent in the month after the sale; 10 percent of sales are uncollectible. c. General expenses budgeted for June are $20,000 (depreciation represents $1,000 of this amount). d. Inventory purchases will total $40,000 in May and $30,000 in June. The company pays for half of its inventory purchases in the month of purchase and for the other half the month after purchase. e. The company will pay $5,000 in cash for office furniture in June. Sales commissions for June are budgeted at $6,000. f. The company maintains a minimum ending cash balance of $4,000 and can borrow from the bank in multiples of $100. All loans are repaid after 60 days. Prepare a cash budget for SABA Enterprises for the month of June. Enter all amounts positive numbers. If an amount is zero, enter "0". SABA Enterprises Cash Budget June Cash receipts: 40% of June sales 50% of May sales Total cash receipts Cash payments: General expenses Purchases May June Office furniture Sales commissions Total cash payments Change in cash Beginning cash Borrowing Repayments Ending cash