Castor Incorporated is preparing its master budget. Budgeted sales and cash payments for merchandise purchases for the next three months follow. Sales are 50\% cash and 50% on credit. Sales in March were $24 , 000 . All credit sales are collected in the month following the sale. The March 31 balance sheet includes balances of $12 , 000 in cash and $2 , 000 in loons poyable. A minimum cash balance of $12 , 000 is required. Loons ore obtained ot the end of any month when the preliminary cash balance is below $12 , 000 interest is 19 per month based on the beginning-of the-month loan balance and is paid at each month-end. If a preliminary cash balance above $12 , 000 at. month-end exists, loans are repaid from the excess. Expenses are paid in the month incurred and include sales commissions (for of 5ales). shipphng (2\% of sales), office salaries (\$5,000 per month), and rent ( $3 , 000 per month), (a) Prepare a schedule of cash receipts from sales for April, May, and June, (b) Prepare a cash budget for each of Apri, May, and June. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest dollar.) CASTOR INCORPORATED Schedule of Cash Recelpts from Sales CASTOR, INCORPORATED.

1. Castor Incorporated is preparing its master budget. Budgeted sales and cash payments for
merchandise purchases for the next three months follow. Sales are 50% cash and 50% on credit.
Sales in March were $24 , 000 . All credit sales are collected in the month following the sale.
The March 31 balance sheet includes balances of $12 , 000 in cash and $2 , 000 in loons poyable.
A minimum cash balance of $12 , 000 is required. Loons ore obtained ot the end of any month
when the preliminary cash balance is below $12 , 000 interest is 19 per month based on the
beginning-of the-month loan balance and is paid at each month-end. If a preliminary cash
balance above $12 , 000 at. month-end exists, loans are repaid from the excess. Expenses are
paid in the month incurred and include sales commissions (for of 5ales). shipphng (2% of sales),
office salaries ($5,000 per month), and rent ( $3 , 000 per month), (a) Prepare a schedule of cash
receipts from sales for April, May, and June, (b) Prepare a cash budget for each of Apri, May,
and June. (Negative balances and Loan repayment amounts (if any) should be indicated with
minus sign. Round your final answers to the nearest dollar.) CASTOR INCORPORATED
Schedule of Cash Recelpts from Sales CASTOR, INCORPORATED