Prepare a cash budget for June.Donald Company has the following information:Cash Balance, May 31 45,000Dividends paid in June 12,000Cash paid for operating expenses in June 36,800Equipment depreciation expense in June 4,500Patent amortization expense in June 2,000Cash collections on sales in June 99,000Merchandise purchases paid in June 56,200Purchase equipment for cash in June 17,500Donald Company wants to keep a minimum cash balance of $10,000.Assume that borrowing occurs at the beginning of the month and repayments occur at the end of the month.Interest of 1% is paid in cash at the end of each month when debt is outstanding.Borrowing and repayments are carried out in multiples of $1,000.