The beginning cash balance in June 2021 is expected to be $20,000 in Sears Company. Sales are forecasted at $800,000 of which 80% will be on credit. 70% of credit sales are expected to be collected in the year of sale. Cash expenditures for the month are forecasted at $570,000; including $10,000 depreciation. Accounts receivable from previous accounting periods totaling $12,000 will be collected in June. The ending balance should be $120,000, the company has an open credit account with the bank to borrow cash and the annual interest rate is 10%.

Prepare the cash budget for June 2021