Check my wa During the last week of August, Oneida Company's owner approaches the bank for a $105,000 September 2 and repaid on November 30 with annual interest of 13%, for an interest cost of $3,413. The owner plans to increase the store's inventory by $60,000 during September and r bank's loan officer needs store's November 30 cash position. On September 1, Oneida is expected to have a accounts receivable, and $100,000 of accounts payable. Its budgeted sale disbursements for the next three months follow. eeds the loan to pay for inventory acquisitions. T more information about Oneida's ability to repay the loan and asks the owner to forecast the $4,500 cash balance, $138,700 of net s, merchandise purchases, and various cash Budgeted Figures* Sales Merchandise purchases Cash payments September October November $260,000 $425,e00 $470,00 230,000 210,00 192,000 Payroll 20,10022,000 23,800 11,00011,00e 33,600 29,00021,100 105,600 3,413 Rent 11,000 Other cash expenses Repayment of bank loan Interest on the bank loan Operations began in August, August sales were $190.000 and purchases were $120,000 The budgeted September merchandise purchases include the inventory increase. All sales are on account. The company predicts that 27% of credit sales is collected in the month of the sale, 44% in the month following the sale, 22% in the second month, 6% in the third, and the remainder is uncollectible. Applying these percents to the August credit sales, for example, shows that $83,600 of the $190,000 will be collected in September, $41,800 in October, and $11,400 in November. All merchandise is purchased on credit, 80% of the balance is paid in the month following a purchase, and the remaining 20% is paid in the second month. For example, of the $120.000 August purchases, $96,000 will be paid in September and $24.000 in October Required Prepare a cash budget for September. October, and November. (Round your final answers to the nearest