Reference no: EM131910247

Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2015:

April May June

  Credit sales $ 319,000 $ 299,000 $ 359,000

  Credit purchases 127,000 150,000 175,000

  Cash disbursements

  Wages, taxes, and expenses 43,900 11,400 62,900

  Interest 10,900 10,900 10,900

  Equipment purchases 79,000 148,000 0

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 2015, credit sales were $189,000 and credit purchases were $129,000. Using this information, complete the following cash budget: (Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required.)

April May June

  Beginning cash balance $ 122,000 $ $

  Cash receipts

  Cash collections from credit sales

  Total cash available $ $ $

  Cash disbursements

  Purchases $ $ $

  Wages, taxes, and expenses

  Interest

  Equipment purchases

  Total cash disbursements $ $ $

  Ending cash balance $ $ $