Tilson Corporation has projected sales and production in units for the second quarter of the coming year as follows: May Sales Production April 58.000 68,000 48,00 58,000 June 68,000 58,000 Cash-related production costs are budgeted at S6 per unit produced. Of these production costs, 35% are paid in the month in which they are incurred and the balance in the following month. Selling and administralive expenses will amount to $60,000 per month. The accounts payable balance on March 31 totals $196,000, which will be paid in April All units are sold on account for $12 each. Cash collections from sales are budgeted at 50% in the month of sale, 30% in the month following the month of sale, and the remaining 20% in the second month following the month of sale. Accounts receivable on April 1 totaled $553,000 ($103,000 from February's sales and $450,000 from March's sales) Required: a. Prepare a schedule for each month showing budgeted cash disbursements for Tilson Corporation b. Prepare a schedule for each month showing budgeted cash receipts for Tilson Corporation April 696,000 May 576,000 June 816,000 | $ $ $ Total sales Cash receipts February sales March sales April sales May sales June sales Total receipts $ 0