Vaughn Products, a rapidly growing distributor of home gardening equipment, is formulating its plans for the coming year. Carol Jones, the firms marketing director, has completed the following sales forecast.

Month		Sales		Month		Sales
January		$908,300		July		$1,504,200
February		$1,005,800		August		$1,504,200
March		$908,300		September		$1,606,500
April		$1,153,500		October		$1,606,500
May		$1,252,100		November		$1,504,200
June		$1,409,900		December		$1,707,200

Phillip Smith, an accountant in the Planning and Budgeting Department, is responsible for preparing the cash flow projection. He has gathered the following information.

	All sales are made on credit.
	Vaughns excellent record in accounts receivable collection is expected to continue, with 60% of billings collected in the month after sale and the remaining 40% collected two months after the sale.
	Cost of goods sold, Vaughns largest expense, is estimated to equal 40% of sales dollars. Seventy percent of inventory is purchased one month prior to sale and 30% during the month of sale. For example, in April, 30% of April cost of goods sold is purchased and 70% of May cost of goods sold is purchased.
	All purchases are made on account. Historically, 75% of accounts payable have been paid during the month of purchase, and the remaining 25% in the month following purchase.
	Hourly wages and fringe benefits, estimated at 30% of the current months sales, are paid in the month incurred.
	General and administrative expenses are projected to be $1,561,000 for the year. A breakdown of the expenses follows. All expenditures are paid monthly throughout the year, with the exception of property taxes, which are paid in four equal installments at the end of each quarter.

Salaries and fringe benefits		$	321,600
Advertising			373,600
Property taxes			141,700
Insurance			190,500
Utilities			180,800
Depreciation			352,800
Total		$	1,561,000

Operating income for the first quarter of the coming year is projected to be $323,700. Vaughn is subject to a 40% tax rate. The company pays 100% of its estimated taxes in the month following the end of each quarter.

Vaughn maintains a minimum cash balance of $50,000. If the cash balance is less than $50,000 at the end of the month, the company borrows against its 12% line of credit in order to maintain the balance. All borrowings are made at the beginning of the month, and all repayments are made at the end of the month (in increments of $1,000). Accrued interest is paid in full with each principal repayment. The projected cash balance on April 1 is $51,500.

Prepare the cash payments budget for the second quarter. (Round answers to 0 decimal places, e.g. 5,275. Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.)

Cash Payments Budget
	April	May	June
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April purchases	enter a dollar amountenter a dollar amount	enter a dollar amountenter a dollar amount	enter a dollar amountenter a dollar amount
May purchases	enter a dollar amountenter a dollar amount	enter a dollar amountenter a dollar amount	enter a dollar amountenter a dollar amount
June purchases	enter a dollar amountenter a dollar amount	enter a dollar amountenter a dollar amount	enter a dollar amountenter a dollar amount
	$Enter a total amountEnter a total amount	$Enter a total amountEnter a total amount	$Enter a total amountEnter a total amount

Accounts Payable balance at the end of second quarter of 2015

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