The Kejore Company has the following information available: July August September O ctober Budgeted Sales RM84ADO 72,000 74,000 76,000 78,000 78,000 Budgeted Operatmg Expenses Month Wages Advertising D epreciation Fretght- out Sales commission Offer Expenses and Revenue Dividends paid in July RM124QO 27,200 19,000 20,400 20% of sales 5% of sales 60,000 Purchase equipment for cash in August 4500 Rent received (August and September) 100, 000 The cost of goods sold rate is and the desired ending inventory level is of the next mon's cost of sales. Fifty percent of purchases will be paid on the month purchases and remammg m next month. Credlt sales are 80% of total sales. Collections of credit sales are 40% in the month of sale, in the month after sale and 10% two months after sale. No uncollectible accounts are expected. Kejore Company wants to maintain a minimum cash balance of RMIO, 000. Assume that borrowing occurs at the begmning of the month and repayments occur at the end of the mon. Interest of I % per month is paid in cash at the end of each month debt is outstanding. Borrowing and repayment is camed out in multiples of RMI, 000. Cash balance at I July IS RM200, 000.