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Assumptions: The firm makes 2 0 % of all sales for cash & collects 4 0 % of its sales in each of the 2

Assumptions:
The firm makes 20% of all sales for cash & collects 40% of its sales in each of the 2 months following the sale
Other cash inflows are expected to be $12,000 in September and April, $15,000 in January and March, and $47,000 in February
The firm pays cash for 10% of its purchases, 50% one month later and 40% after 2 months.
Wages and salaries amount to 20% of the preceding month's sales
Rent of $19,000 must be paid monthly
Interest payments of $20,000 are due in January and April.
A principal payment of $30,000 is due in April
The firm expects to pay cash dividends of $25,000 in January and April
Taxes of $80,000 are due in April
The firm also intends to make a $25,000 cash purchase of fixed assets in December
Sales and puchases by month are expected to be as follows;
\table[[,2023,2024],[,Sep,Oct,Nov,Dec,Jan,Feb,Mar,Apr],[Sales,210,000,250,000,170,000,160,000,140,000,180,000,200,000,250,000],[Purchases,120,000,150,000,140,000,100,000,80,000,110,000,100,000,90,000]]
Prepare a cash budget for Bubba's Bikes by completing the format laid out below and incorporating the above assumptions, highlighting your answers to the following:
c) If Bubba were going to request a line of credit at the bank to cover financing for the period November to April, how large would this line have to be?
\table[[,Sep,Oct,Nov,Dec,Jan,Feb,Mar,Apr],[Sales],[Cash rec.],[1 month],[Other rec.],[Total Rec.],[,,,,,,,,],[Purchases],[Cash],[1 month],[2 months],[Rent],[Interest],[Principal],[Dividends],[Taxes],[F/A purch.],[Total disp.],[,,,,,,,,],[Receipts],[Disburs.],[Net CF],[Beg, Cash],[End Cash],[Req. Fin.],[],[,,,,,,,,],[Excess,,,,,,,,],[,,,,,,,,
Please include all functions and formulas
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