The following data are available from Xpot Products for the 2nd quarter of 2022: 1. On April 1, the start of the quarter, the company had a cash balance of $6,000. Accounts receivable on April 1 totaled $31,500, of which $29,500 will be collected uncollectible. during April and $1,600 will be collected during May. The remainder will be 2. Past experience shows that 25% of a month's sales are collected in the month of sale, 70% in the month following sale, and a 4% in the second month following sale. Budgeted sales and expenses for the second quarter follow: Sales April May June $ 50,000 $ 60,000 $ 45,000 Merchandise purchases 36,000 27,000 Payroll 24,000 6,500 6,750 6,000 Rent payments 4,500 4,500 4,500 Other cash payments 8,500 9,100 7,500 Depreciation 2,500 2,500 2,500 3. Merchandise purchases are paid in full during the month following purchase. Accounts payable for merchandise purchases on March 31, which will be paid during April, totaled $30,000. Required: a. Prepare a schedule of budgeted cash collections for April, and May 2022. b. Prepare a schedule of budgeted cash payments for April, and May 2022