sales Credit sales Credit sales collecton pttw 50% the second month following sale The remaining 5% balance is uncollectal b. May inventory purchases amounted to $150A 0oo. June inestory pueh are budgeted to be $110,000. Payment poicy on parchoses Percentage Paid in the month of purchase the month following purchase 40% 100% c. Other cash purchases and cash expenditures budgeted for June. Plant equipment purchases Operating expenses $30,000 1E0,000 (Depreciation included in operating expenses is $25,000.) Dividends to be paid 4,000 d. The ending cash balance on May 31l is $15,000. The minimum cash balance required at all times is $10,000. Ignore interest on the borrowing, if there is a need for borrowing. Required: v Present a cash receipts schedule foNune. unt f payment Ju esent a cash disbursements schedule for 3. Present a cash budget for June. or Junt 32,00 ed Sales s%) 5 76 5 ril Sales (175.00 20