Faragraph Styles Question 3( 40 marks) Anderson Manufaturing Inc.,-Cash budget for September 2020 Anderson Manufacturing Inc.,aims to prepare a cash budget for September 2020. The cash balance at the beginning of September is $9,000. The actual sales for July and August and expected sales for September are: Information July ($) August (5) September(s) Cash Sales 13,000 10,500 14,800 Sales on Account 40,000 60,000 80,000 Total Sales 53,000 70.500 98,800 Sales on account are collected over a three-month period in the following ratio: 10% in the month of sale. 70% in the month following sale 18% in the second month following sale 2% remaining are uncollectible. Additional information includes: (a) Purchases of inventory will total $ 50,000 for September; 20% will be paid for in September. Accounts payable from August's inventory purchases is $ 32,000, all of which will be paid in September (b) Selling and administrative expenses are budgeted at $ 26,000 for September, of which S 8,000 is for depreciation. (c) Equipment costing S 36,000 will be purchased for cash during September, and other miscellaneous cash expenses of $ 6.000 will be paid during September Required Prepare a Cash Budget for September. Show all workingsclearly. Workings should include three tables schedules showing cash collections from sales on account for the three months ( 10 marks), cash collections in the month of September ( 6 marks) & cash budget for September( 24 marks)