The Cash Budget prepared by Danner Company for January and February was so helpful, the company has asked that a similar budger for March and April. The beginning cash balance at March 1 carried over from February 28, $20,000. Also carried over is the borrowing of $6,000. Because this is their busy season, ahead of summer, amounts are larger but terms must be extended to many of the customers. In March, $15,000 will be collected from old accounts. In addition, the company will collect 60% of sales in the current month; 30% in the next month and 10% two months after the sale. All disbursements are made in the current month. In addition, the company wants to repay the $6,000 but must maintain a balance of at least $20,000 at month end. Following are information on operations: March April Sales 300,000 150,000 Direct materials 80,000 65,000 Direct labor 75,000 60,000 Man. Overhead 22,000 19,000 Selling & Adm. Exp. 20,000 15,000 Calculate the amount of cash to be received in March and April. Prepare the cash budget for March and April.March April Cash Collections Beginning balance 20,000 Receipts: Total Disbursements: Total Ending balance