View History AEC340-CHO3.PARTO3-Homework Edited om Add Page InsertTableChart TextShape Media Comment Kellerman Farm Supply, Inc., has both cash sales and credit sales. Half of cach month's sales is for cash and all credit sales are collected one month later. Sales for April, May June, and July are $35,000, $44,000, $40,000, and $30,000, respectively. Cash payments for May, June, and July are $45,000, $32,000, and $28,000. May's beginning cash balance is $2,000, which is the desired minimum. a. Ignoring interest expense, complete the following cash budget for May, June, and 2. July. (Points: 24) Month May June July Cash receipts Less: cash payments Net cash flow Plus: beginning cash Cash without borrowing Current borrowing/surplus Cumulative borrowing Ending cash balance If these are Kellerman's most difficult cash-flow months during the year, how much would you recommend it request from its bank for a line of credit? (Points: 4) b. 892 words 3 MacBook Pro