CASH BUDGETING Helen Bowers, owner of Helen's Fashion Dasigns, is planning to request a line of credit from her bank. She has estimated the following sales forecasts for the firm for parts of 2016 and 2017: May 2016 une July August $196,000 190,D0 372,000 540,000 720,000 260,000 October January 2017 180,000 Estimates egar ng payments obtained from the credit department are as follows collected w thin the month of sale, 10%; o ected the month ollowing the sale, 75%; collected the second month following the sale, 15% payments or labor and aw materials are made the month after these services were provided. Here are the estimated costs of labor plus raw materials: May 2016 June July August $00,000 90,000 126,000 833,000 07,000 234,000 161,000 90,000 October General and administrative salaries are approximately $26,000 a month, Lease payments under long-term leases are $9,000 a month. Depreciation charges are $36,000 a month, Miscellaneous expenses are $2,600 a month. Income tax payments of $64,000 are due in September and December. A progress payment of $180,000 on a new design studio must be paid in October. Cash on hand on July 1 will be $132,000, and a minimum cash balance of $90,000 should be maintained throughout the cash budget period. a. Prepare a monthly cash budoet for the last 6 months of 2016. If no entry required, enter 0. Use minus sign to enter losses, loans outstanding or any other negative amounts