Chapter 16- Short-Term Financial PlanningA Saved Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. May $598,000 282,000 April $689,000 302,000 June $ 751,000 338,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Skipped 179,000 137000 129,000 15,600 53,500 15,600 6,600 15,600 248,000 Equipment purchases 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 2019, credit sales were $561,000. 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.) April May June Beginning cash balance Cash receipts 182,000 Cash collections from credit sales Total cash available Cash disbursements Purchases $ 289,000 Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance