5 Lucky Food Stores wishes to prepare a cash budget for the month of April, 2022. Total Sales for February (actual), March and April (estimated) are as follows: Month Total Sales February $48,000 March April 40,000 45,000 The total budgeted purchases (paid entirely in cash) for April is $22,000. The expenses for April are expected to be $9,500 including $1,000 for depreciation on machinery All sales are on credit, and the company's experience shows that, on the average, 80 percent of sales are collected in the month of sale, 15% on the month following sale and the balance two months after sale. Calculate the budgeted cash expenses for April 2022 Answer