sut and Interest payments: An interest payment of $30,000 is due in June. Cash dividends: Dividends of $12,500 will be paid in April. Principal repayments and retirements: No principal repayments or retireme are due during these months. Cash budget: Basic Grenoble Enterprises had sales of $50,000 in March and S60,000 in April. Forecast sales for May, June, and July are $70,000, S80,000 $100,000, respectively. The firm has a cash balance of $5,000 on May 1 and wi to maintain a minimum cash balance of $5,000. Given the following data, prep P4-9 and interpret a cash budget for the months of May, June, and July. (1) The firm makes 20% of sales for cash, 60% are collected in the next month and the remaining 20% are collected in the second month following sale