Check My Wor eBook Cash Budgeting Dorothy Koehl recently leased space in the Southside Mall and opened a new business, Koehl's Doll Shop, Business has been good, but Koht frequently runs ou of cash. This has necessitated late payment on certain orders, which is beginning to cause a problem with suppliers, Koeht plans to borrow from the bank to have cash ready as needed, but first she needs a forecast of how much she should borrow. Accordingly, she has asked you to prepare a cash budget for the critical period around Christmas, when needs will be especially high Sales are made on a cash basis only. Koehl's purchases must be paid for during the following month, Kochi pays herself a salary of $0.300 per month and the rent is 52,200 per month. In addition, she must make a tax payment of $12,000 in December The current cash on and on December 1) I 1580, but Kort has agreed to maintain an average bank balance of $5,500 - this is her target cash balance (Oregard the amount in the cash register which is ignificant because Kocht keeps only a small amount on hand in order to lessen the chances of robbery.) The estimated sales and purchases for December, January, and February are shown below. Purchases during November amounted $150,000, Sales Purchases December $150,000 140,000 January 42.000 40,000 February 52,000 40,000 3. Prepare a cash budget for December January, and February. Do not round Intermediate calculations. Round your answers to the nearest of Negative values, if any, should be indicated by a minus sign Collections and Purchases January February