12:39 - ll 21% - a case-4 - Saved You have been provided with the following information from the books and records of the High Level Adventure Company: (A) Cash balance March 1: $40,000 (B) All sales are on account and are collected in the following manner: Collected in the month of sale: Collected in the month following sale Collected in the second month following sale 20% 65% 15% The results of actual sales and budgeted sales for the first quarter of the year: (C) January (actual) $1,200,000 February (actual) $980,000 March (budgeted) $1,120,000 All inventory purchases are on account and are paid in the following manner: Paid in the month of the purchase Paid in the month following the purchase 65% 35% The results of actual purchases and budgeted purchases for: (E) February (actual) $415,000 March (budgeted) $620,000 (F) Budgeted cash disbursements for salaries in March: (G) Budgeted amortization expense for March: (H) Other cash expenses budgeted for March: (1) Accrued income taxes due and paid in March: (J) Bank loan interest due and paid in March: (K) Minimum desired cash balance: (L) Borrow and repay loan in increments of: (M) Beginning operating line loan balance (N) Operating line loan interest rate: $197,000 $26,250 $286,000 $90,000 $6,850 $12,000 $500 $0 9.5% REQUIRED: *Prepare a cash budget for the High Level Adventure Company for the month of March. (Provide rational mentioned below on the side or below.) *Provide your rational for your results in either text of schedules or both