7. Waskom Furniture Company provides the following data for the months of July through October:

Month Sales Purchases

July $180,000 $105,000

August 165,000 120,000

September 150,000 90,000

October 195,000 135,000

Collections from customers are normally 70% in the month of sale and 30% in the following month. All purchases are on credit and paid in cash in the following month. November sales are budgeted to be $165,000, and November purchases are forecast to be $150,000. Cash disbursements for expenses in November are budgeted to be $35,000. Beginning cash balance on November 1 is $55,000. Required: Prepare a cash budget in good form for November.