Extracted text: 11. Calculating the Cash Budget Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. LO 3 April May June $598,000 282,000 $689,000 $751,000 Credit sales 302,000 338,000 Credit purchases Cash disbursements 137,000 129,000 179,000 Wages, taxes, and expenses 15,600 15,600 15,600 Interest 53,500 6,600 248,000 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 re- maining 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, com- plete the following cash budget: April May June $182,000 Beginning cash balance Cash receipts 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