Castor, Inc. is preparing its master budget for the quarter ended June 30. Budgeted sales and cash payments for merchandise for the next three months follow:

Sales are 50% cash and 50% on credit. All credit sales are collected in the month following the sale. The March 30 balance sheet includes balances of $ 12,000 in cash, $ 12,000 in accounts receivable, $ 11,000 in accounts payable, and a $ 2,000 balance in loans payable. A minimum cash balance of $ 12,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning of the month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), shipping (2% of sales) office salaries ($ 5,000 per month) and rent ($ 3,000 per month). Prepare a cash budget for each of the months of April, May, and June (round all dollar amounts to the nearest wholedollar).

Apri May June Budgeted sales Budgeted cash payments for $32000 $40,000 $24,000 merchandise.. 20,200