ABC Company is a wholesale distributor of soft drinks. ABC Companys balance sheet as at August 31 is as follows: Cash $ 11,000 Accounts receivable 75,000 Inventory 42,000 Buildings and equipment, net of depreciation 338,000 Accounts payable 89,000 Note payable 35,000 Common shares, no par 280,000 Retained earnings 62,000 ABC Company is in the process of preparing budget data for September. A number of budget items have already been prepared, as stated below. Sales are budgeted at $300,000 for September. Of these sales, $120,000 will be for cash; the remainder will be credit sales. A total of 35% of a months credit sales are collected in the month the sales are made, and the remainder is collected in the following month. All of the August 31 accounts receivable will be collected in September. Purchases of inventory are expected to total $216,000 during September. These purchases will all be on account. A total of 60% of all purchases are paid for in the month of purchase; the remainder is paid in the following month. All of the August 31 accounts payable to suppliers will be paid during September. The September 30 inventory balance is budgeted at $50,000. Selling and administrative expenses for September are budgeted at $71,000, inclusive of depreciation and are paid when incurred. Depreciation is budgeted at $5,000 for September. New refrigerating equipment costing $10,000 will be purchased for cash during September. ABC Company requires a minimum of $6,000 in cash to begin the following month. Required: Prepare ABC Companys cash budget for September. (7 marks