the second quarter of 2021: Credit sales April May June $ 320,000 $300,000 $360,000 Credit purchases 128,000 151,000 176,000 Cash disbursements Wages, taxes, and 44,000 11,500 63,000 expenses Interest Equipment purchases 11,000 80,000 11,000 11,000 150,000 0 The company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of the sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2021, credit sales were $190,000 and credit purchases were $130,000. Using this information, complete the following cash budget (Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required.) Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance April May $ 123,000 June < Prev 7 of 8 Ne