Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2002:

The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase.

In March 2002, credit sales were $210,000, and credit purchases were $156,000. Using this information, complete the following cash budget:

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Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases April $330,000 132,000 20,400 9,600 70,000 May $372,000 150,000 22,200 9,600 84,000 June $432,000 185,000 25,200 9,600 0