Sales for October, November, and December are expected to be $200,000, $180,000, and $220,000, respectively, for the Gurumai Company. All sales are on account (terms 2/15, net 30 days) and are collected 50 percent in the month of sale and 50 percent in the following month. One-half of all sales discounts are taken on the average. Materials are purchased one month before being needed, and all purchases and expenses are paid for as incurred. Activities for the quarter are expected to be:

Required:
Using the given information, prepare a cash budget for November

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November $36,000 December $44,000 72,000 October $40,000 70,000 Materials used Salaries Maintenance and repairs Depreciation Utilities and other Dividends paid Payment on bonds 68,000 18,000 36,000 14,000 10,000 8,000 18,000 18,000 14,000 -0- 8,000 14,000 -0- 8,000