You have been asked to prepare a June cash budget for Brighton Company, a distributor of sports equipment. The following information is available about the company$$s operations:

The cash balance on June $1$ will be $$46,800.$

Actual sales for April and May and expected sales for June are as follows:

April May June

Cash sales $ $77,000$ $ $87,000$ $ $97,000$

Sales on account $434,000584,000634,000$

Sales on account are collected over a three$-$month period in the following ratio: $20\%$ collected in the month of sale, $70\%$ collected in the month following sale, and $8\%$ collected in the second month following sale. The remaining $2\%$ are uncollectible.

Purchases of inventory will total $$334,000$ for June. $30\%$ of a month$$s inventory purchases are paid during the month of purchase. The accounts payable remaining from May$$s inventory purchases total $$184,000,$ all of which will be paid in June.

Selling and administrative expenses are budgeted at $$484,000$ for June. Of this amount, $$53,400$ is for depreciation. These are paid in the period incurred.

A new Web server for the Marketing Department costing $$78,400$ will be purchased for cash during June, and dividends totalling $$7,850$ will be paid during the month.

The company must maintain a minimum cash balance of $$23,400.$ An open line of credit is available from the company$$s bank to bolster the cash position, as needed.Required:

Prepore a schedule of expected cosh collections for June.

Prepore $s$ schedule of expected cosh disbursements for materisls during June to suppliers for inventory purchsses.

Prepore o cosh budget for June. Indicate in the financing section any borrowing that will be needed during the month.