ACME Company is preparing a cash budget for September. Sales are budgeted at $125,000 and are collected 85% in the month of sale and the balance in the following month. At the end of the previous month, the accounts receivable is $19,000, and the cash balance is $2,000. Budgeted expenses to be paid in cash in September are as follows: inventory purchases of $70,000; salaries of $14,000; and administrative expenses of $50,000. Depreciation is budgeted at $2,000 for the month. A minimum cash balance of $1,000 must be maintained. Interest will be paid in the following month. Required: Prepare a Cash Budget, in good form, for September. (7 marks) Paragraph B I U A + Arial, sans-serif v 12pt Ea C ACME Company Cash Budget For the Month of September