during the last week of August or night his company owner approaches the bank for $107,500 loan to be made on September 2 and we paid on November 30 with annual interest of 9% or interest cost of $2419 the owner plans to increase the stores him and Tori by $60,000 during September I need to loan to pay for inventory acquisitions the banks on officer needs more information about our night his ability to repay the loan and asked for the owner to forecast the stores November 30 cash position September 1 or night it is expected to have a $4500 cash balance 120 $2400 of net accounts receivable and $100,000 of accounts payable its budgeted sales merchandise purchases and various cash disbursements for the next three months follow the budget of September merchandise purchases include immature increase all sales are on account the company for Jake's at 28% of credit sales and collected the month of the sale 43% of the month following the sale 23% in the second month opposite the third month and the remainder is uncollectible applying these percent to the August credit sales per sample shows that 73,100 of the hundred and $70,000 will be collected September 30, 9100 in the October and 8500 in November I'll merchandise is purchased on credit 50% of the balance is paid in the month following a purchase and remaining 50% is paid in the second month for example Of the 105 thousand August purchases 52,500 will be paid in September and 52,500 in October prepare the cash budget for September October and November around your final answers to the nearest whole dollar