During the last week of August, Apache Arts Company's owner approaches the bank for an $80,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $2,400. The owner plans to increase the store's inventory by $60,000 during September and needs the loan to pay for inventory acquisitions. The bank's loan officer needs more information about Apache Arts' ability to repay the loan and asks the owner to forecast the store's November 30 cash position. On September 1, Apache Arts is expected to have a $3,000 cash balance. $135,000 of accounts receivable, and $100,000 o accounts payable. Its budgeted sales, merchandise purchases, and various cash disbursements for the next three months follow September $ 220,000 210.000 October $300,000 180,000 November $380,000 220,000 Budgeted Figures Sales Merchandise purchases Cash disbursements Payroll Rent Other cash expenses Repayment of bank loan Interest on the bank loan 16,000 6.000 64,000 17,000 6,000 8,000 18,000 6.000 7,000 80.000 2.400 *Operations began in August, August sales were $180,000 and purchases were $100,000 The budgeted September merchandise purchases include the inventory increase. All sales are on account The company predicts that 25% of credit sales is collected in the month of the sale, 45% in the month following the sale, 20% in the second month, 9% in the third, and the remainder is uncollectible Applying these percents to the August credit sales, for example, shows that $81,000 of the $180,000 will be collected in September, $36.000 in October, and $16.200 in November. All morchandise 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 $100,000 August purchases, $80,000 will be paid in September and $20.000 in October Required: Prepare a cash budget for September October, and November for Apache Arts Company (Input all amounts as positive values. Leave no cells blank.be certain to enter "0" wherever required. Round your intermediate calculations and final answers to the nearest dollar amount. Omit the "S" sign in your response.)