How to calculate to solve this problem

Here are some important figures from the budget of Cornell, Inc., for the second quarter of 2017 April May June Credit sales Credit purchases Cash disbursements $322,000 $302,000 $362,000 130,000 153,000 178,000 Wages, taxes, and expenses Interest Equipment purchases 44,200 11,200 82,000 154,000 11,700 11,200 63,200 11,200 0 The company predicts that 5 percent of its credit sales will never be collected, 40 percent of its sales will be collected in the month of the sale, and the remaining 55 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase In March 2017, credit sales were $192,000, and credit purchases were $132,000. Using this information, complete the following cash budget. (Do not round intermediate calculations.) April May June Beginning cash balance Cash receipts 125,000 $ Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disburs ements Ending cash balance