b. Prepare a cash budget with borrowing needed or repayments for November and December. (Negative amounts should be indicated by a minus sign. Assume the November beginning loan balance is $0.) Graham Potato Company Cash Budget November December Total cash receipts $ 15,840 $ 17,860 Total cash payments 5,000 X 5,000 X Net cash flow $ 20,840 $ 22,860 Beginning cash balance (18,500) (11,000) Cumulative cash balance $ 2,340 $ 11,860 Monthly borrowing 2,660 (2,660) (repayment) Ending cash balance $ 5,000 $ 9,200 Cumulative loan balance $ 0 x $ 0 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Graham Potato Company has projected sales of $12,000 in September, $15,000 in October, $22,000 in November, and $18,000 in December. Of the company's sales, 30 percent are paid for by cash and 70 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December. Also assume Graham's cash payments for November and December are $18,500 and $11,000, respectively. The beginning cash balance in November is $5,000, which is the desired minimum balance. a. Prepare a cash receipts schedule for November and December. Graham Potato Company Cash Receipts Schedule September October $ 12,000 15,000 8,400 10,500 November December Sales $ 22,000 $ 18,000 Credit sales 15,400 6,600 Cash sales $ $ One month after sale 4,200 12,600 5,400 6,160 6,300 17,860 Two months after sale 5,040 15,840 Total cash receipts $ $