a$.$ On April $1,$ the start of the loan period, the cash balance will be $\backslash (\backslash$$ $40,000\backslash ).$ Accounts recelvable on April $1$ will total $\backslash (\backslash$$ $145,600\backslash ),$ of which $\backslash (\backslash$$ $124,800\backslash )$ will be collected during April and $\backslash (\backslash$$ $16,640\backslash )$ will be collected during May. The remainder will be uncollectible. b$.$ The company estimates $\backslash (30\backslash \%\backslash )$ of a month's sales are collected in the month of sale, $\backslash (60\backslash \%\backslash )$ in the month following sale, and $\backslash (8\backslash \%\backslash )$ in the second month following sale. The other $\backslash (2\backslash \%\backslash )$ are bad debts that are never collected. Budgeted sales and expenses for the threemonth perlod follow: c$.$ Merchandise purchases are paid in full during the month following purchase. Accounts payable for merchandise purchases during March, which will be paid in April, total $\backslash (\backslash$$ $187,000\backslash ).$ Required: $1.$ Calculate the expected cash collections for April, May, and June, and for the three months in total. $2.$ Prepare a cash budget, by month and in total, for the three$-$month perlod. Assume the $\backslash (\backslash$$ $47,000\backslash )$ loan is made on Aprill $1$ and repaid with Interest on June $30.$ Answer is not complete. Complete this question by entering your answers in the tabs below. Required $1$ Required $2$ Calculate the expected cash collections for April, May, and June, and for the three months in total. Complete this question by entering your answers in the tabs below.

Prepare a cash budget, by month and in total, for the three$-$month period. Assume the $\backslash (\backslash$$ $47,000\backslash )$ loan is made on April $1$ and repaid with interest on June $30.$

Note: Cash deficiency, repayments and interest should be indicated by a minus sign.

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$c$|\}\{$Prime Products$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$c$|\}\{$Cash Budget$\}\backslash \backslash$

$\backslash$hline & & April & & May & & June & & Quarter $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Beginning cash balance$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Add receipts:$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Collections from customers$\}\backslash \backslash$

$\backslash$hline Total cash available & & $0$ & & $0$ & & $0$ & & $0\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Less cash disbursements:$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Merchandise purchases$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Payroll$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Lease payments$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Advertising$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Equipment purchases$\}\backslash \backslash$

$\backslash$hline Total cash disbursements & & $0$ & & $0$ & & $0$ & & $0\backslash \backslash$

$\backslash$hline Excess $($deficiency$)$ of cash available over disbursements & & $0$ & & $0$ & & $0$ & & $0\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Financing:$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Borrowings$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Repayments$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{9\}\{|$l$|\}\{$Interest$\}\backslash \backslash$

$\backslash$hline Total financing & & $0$ & & & & $0$ & & $0\backslash \backslash$

$\backslash$hline Ending cash balance & $\backslash$$ & $0$ & $\backslash$$ & $0$ & $\backslash$$ & $0$ & $\backslash$$ & $0\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$