dev/ims/quizzing/user/attempt/qu fromQB=0 am 0:00 Time Left:1:39:29 Vishaldeep Singh: Attempt 1 AUME Company nas the following Duaget Information for ZUZZ: October November December Sales on account $180,000 $200,000 $150,000 Material purchases $90,000 $80,000 $70,000 Manufacturing labour and 6 overhead expenses (including depreciation) $98,000 $115,000 $110,000 Depreciation expense $7,000 $7,000 $7,000 9 The following information is also available: . on November 30, 2022, the cash balance is expected to be $2,000 and the line of credit 1 12 balance is expected to be zero a minimum cash balance of $1,000 is required each month interest on outstanding line of credit balances will be paid in the following month 14 15 sales are typically collected 25% in the month of sale, 50% in the month following the sale, and 22% in the second month following the sale . material purchases are paid 20% in the month of purchase and the remaining amount in the following month Required: 1. Prepare a cash budget, in good form, for December. (9 marks) 2. Calculate the Accounts Payable balance for the budgeted Balance Sheet on December 31, 2022. (1 mark) here to search O 16 C Sun F10 F11 12 PrtSc/Imprecr Pause Insert Arretder Syskq/ Syst. Break/Interr & a A 6 8 2 9 3 0 1/4 = 3 4 W E R O P A D G