subject - business finance

can any help to correct my answer C

I am getting right answer. Thanks

Ellis 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 $510,000 490,000 465,000 465,000 480,000 520,000 Purchases $149,000 139,800 139,000 199,000 219,000 189,000 The company makes 40 percent of its sales for cash and 60 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 40 percent of its purchases in the month after purchase and 60 percent two months after Labour expense equals 30 percent of the current month's sales. Overhead expense equals $13,900 per month. Interest payments of $39,500 are due in June and September. A cash dividend of $59.500 is scheduled to be paid in June. Tax payments of $26,900 are due in June and September. There is a scheduled capital outlay of $490,000 in September. Ellis Electronics' ending cash balance in May is $29,500. The minimum desired cash balance is $24.500. a. Prepare a schedule of monthly cash receipts for June through September Ellis Electronics' ending cash balance in May is $29,500. The minimum desired cash balance is $24,500 a. Prepare a schedule of monthly cash receipts for June through September April $ 510,000 306,000 Sales Credit sales > Ellis Electronics cash Receipts Schedule May June $ 490,000 $1465,000 294,000 279,000 196,000 186,000 122,400 117,600 183,680 > > July $ 165,000 279,00 186,000 111,600 August September $ 489,000 $520,000 288,000 312,eee 192,000 288, eee 111,600 115,200 167,480 167,400 Cash sales 284,000 Collections in month after sale Collections second month after sale 176,400 Total cash receipts 487,200 474,000 471,000 490,600 b. Prepare the monthly cash payments for June through September Ellis Electronics Cash Payments Schedule Total cash payments c. Prepare a complete monthly cash budget with borrowing and repayments for June through September. The maximum desired cash balance is $51,900. Excess cash (above $51,900) is used to buy marketable securities. Marketable securities are sold before borrowing funds in case of a cash shortfall (less than $24,500). (Omit $ sign in your response. Do not leave any empty spaces: input wherever it is required. Negative answers and amounts to be deducted should be indicated by a minus sign.) Ellis Electronics Cash Budget June July August September Cash receipts $ 487,200 $ 474,000 471,000 490,600 424,300 292,400 320,980 Cash paynents 933, 300 > > @ Net cash flow Beginning cash balance 62.900 29,500 181,600 51,900 150, 100 g 51,900 -442,700 51,900 92,480 3 233,500 202,000 Cumulative cash balance Monthly borrowing or repayment) >> > > 390,800 78500 O 0 ) Ellis Electronics Cash Budget June $ 487,200 > September $ 490,600 > July 474,000 292,400 August $ 471,080 320,900 Cash receipts cash payments > 424,300 933,300 62,900 Net cash flow Beginning cash balance 181,600 51,900 > > 150, 100 51,980 -442,700 51,900 29,500 92,400 233,500 202,800 390,800 70500 @ > 70500 Cumulative cash balance Monthly borrowing or (repayment) Cumulative loan balance Marketable securities purchased Marketable securities sold Cumulative marketable securities Ending cash balance > > > 40, 500 181,600 150, 100 372200 40,500 222,100 372,200 $ 51,900 $ 51,900 $ 51,900 $ 51,900