The city of Charleston had the following is of water for the selected months of 2017: Meath Sales $70,000 February March 45,000 April May 83.000 70,000 June July 120.000 All sales are on credit. Historically 411 percent is collected in the month of sale, 20 percent during the first month following the sale, and 40 percent in the second month following the sale. Water purchases by mouth are as follows: Month February $60,000 March 40.000 April 45,000 May 50.000 June $2,500 July 90,000 Water is purchased in the month of sale. All purchases are paid during the month following the purchase. Operating costs are $25,000 and everything is paid in cash except for depreciation, which totals $8,000 a month. The city plans on purchasing some new equipment in May for $25,000) in exchange for a note payable The April 1 cash balance is expected to be $5,000. The city must maintain a minimum cash balance of S10,500, and money can be horrowed from a local bank in any increment. The city boros money at the beginning on the first day of the mouth and repays loans and interest on the last day of the month. The bank charges the city an annual interest rate of 17% Required: Prepare a cash budget for April May June and in for the quarter, and based on your answer complete the following table: Round to the nearest dollar and DO NOT unter decimals, or commas and if a zero needs to be entered, unter "o". April $5,000 May $ 10,500 June $10.957 Quarter $ 5,000 Beginning Cash Balance