The manager of Café Leblanc is preparing their budget for the upcoming fiscal quarter, commencing 1 April. The following information is available: The following balances are expected for the end of this fiscal quarter (31 March): cash $52,000; accounts receivable $44,000, accounts payable $28,000 and unpaid expenses $1,100. The manager expects 90% of the amount outstanding from customers at the end of this fiscal quarter to be collected in April and the remainder uncollectable. Café Leblanc has placed an order of a new coffee machine that will cost $20,000. The scheduled payment date is in June. Projected balances for the next quarter are as follows:   April May June Sales revenue 80,000 82,000 84,000 Purchases 43,000 44,000 44,000 Depreciation 4,000 4,000 4,000 Salaries 2,500 2,500 2,500 Other expenses 2,000 1,800 2,000 90% of monthly sales are on credit. Receipts from credit customers are normally 40% in the month of sale, 55% in the month following the sale, and the remainder is considered uncollectable. 40% of goods purchased are paid for in the month of purchase and the remaining is paid in the following month. Salaries are paid before the end of each month. 50% of other monthly expenses are paid for in the month incurred and the remainder paid in the following month.   Required: Prepare the cash budget for April and May.

The manager of Café Leblanc is preparing their budget for the upcoming fiscal quarter, commencing 1 April. The following information is available:

• The following balances are expected for the end of this fiscal quarter (31 March): cash $52,000; accounts receivable $44,000, accounts payable $28,000 and unpaid expenses $1,100. The manager expects 90% of the amount outstanding from customers at the end of this fiscal quarter to be collected in April and the remainder uncollectable.
• Café Leblanc has placed an order of a new coffee machine that will cost $20,000. The scheduled payment date is in June.
• Projected balances for the next quarter are as follows:

• 90% of monthly sales are on credit. Receipts from credit customers are normally 40% in the month of sale, 55% in the month following the sale, and the remainder is considered uncollectable.
• 40% of goods purchased are paid for in the month of purchase and the remaining is paid in the following month.
• Salaries are paid before the end of each month. 50% of other monthly expenses are paid for in the month incurred and the remainder paid in the following month.

Required:

Prepare the cash budget for April and May.