Question

Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019:

 

	April				May				June
Credit sales		$	404,000			$	353,000			$	441,000
Credit purchases			181,000				169,000				202,000
Cash disbursements
Wages, taxes, and expenses			79,900				75,400				104,100
Interest			9,600				9,600				9,600
Equipment purchases			34,000				6,500				149,000

 

The company predicts that 5 percent of its credit sales will never be collected, 25 percent of its sales will be collected in the month of the sale, and the remaining 70 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $331,000.

Using this information, complete the following cash budget. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

PLEASE COMPLETE THE ENTIRE QUESTION