. As at May 31, 2021 Orange Foxe Inc. is overdrawn at the bank by $15,000, has $45,000 in its Accounts Receivable, and owes vendors $35,000 (to be paid in June). Other information for June is as follows: Sales are $300,000 of which 80% are on account. It expects to collect 60% of its June sales on account in the month of sale and 98% of its May receivables. Purchases and labour amount to $250,000 and $55,000 respectively, 45% of the purchases are paid for in the following month and labour costs are paid for in the month incurred. Black Wolf acquired a new piece of manufacturing equipment on June 26 for $80,000 which was purchased by way of a note payable Required: Prepare a cash budget in good form for June. (8 marks)