. Excavation Inc. requires a cash budget for the month ended December 31, 2021 using the following information: at November 30, 2021 there will be $7,000 in the bank, as well as accounts receivable of $5,000 to be collected in December budgeted sales are $100,000 of which 80% are on account, historically, 70% of sales on account are collected in the month of sale and 27% are collected in the following month the company plans to purchase a new vehicle during December, the purchase price is $50,000 and will be paid using a new bank loan budgeted monthly expenses are as follows: wages $45,000, depreciation $25,000 (including depreciation on the new vehicle purchase), administration $2,000 . Required: Prepare a cash budget, in good form, for December. (9 marks)