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Prime Products hopes to borrow $$83,000$ on April $1$ and repay it plus interest of $$1,180$ on June $30.$ The following data are available for the months April through June, during which the loan will be used:

On April $1,$ the start of the loan period, the cash balance will be $$18,800.$ Accounts receivable on April $1$ will total $$165,200,$ of which $$141,600$ will be collected during April and $$18,880$ will be collected during May. The remainder will be uncollectible.

The company estimates $30\%$ of a month$$s sales are collected in the month of sale, $60\%$ in the month following sale, and $8\%$ in the second month following sale. The other $2\%$ are bad debts that are never collected. Budgeted sales and expenses for the three$-$month period follow:

April May June

Sales $($all on account$)$ $ $334,000$ $ $510,000$ $ $343,000$

Merchandise purchases $ $266,000$ $ $200,000$ $ $176,500$

Payroll $ $19,000$ $ $19,000$ $ $18,800$

Lease payments $ $27,800$ $ $27,800$ $ $27,800$

Advertising $ $70,400$ $ $70,400$ $ $57,890$

Equipment purchases $$ $ $105,500$

Depreciation $ $23,000$ $ $23,000$ $ $23,000$

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 $$149,000.$

Required:

Calculate the expected cash collections for April, May, and June, and for the three months in total.

Prepare a cash budget, by month and in total, for the three$-$month period. Assume the $$83,000$ loan is made on April $1$ and repaid with interest on June $30.$

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