Financial information pertaining to Neutron-X Company above follows: Beginning cash balance is $180,000 Sales are on credit and are collected 50 per cent in the current period and the remainder in the next period. Last quarter's sales were $840,000. There are no bad debts. Purchases of direct materials and labour costs are paid for in the quarter acquired. Manufacturing overhead expenses are paid in the quarter incurred. Selling and administrative expenses are all fixed and are paid in the quarter incurred. Therefore, they are budgeted at $34,000 per quarter, including $9,000 of depreciation. Required: Refer to the sales budget prepared in Task 1. Construct a cash budget for Neutron-X Company for the quarter ending 31 December 2021. Financial information pertaining to Neutron-X Company above follows: Beginning cash balance is $180,000 Sales are on credit and are collected 50 per cent in the current period and the remainder in the next period. Last quarter's sales were $840,000. There are no bad debts. Purchases of direct materials and labour costs are paid for in the quarter acquired. Manufacturing overhead expenses are paid in the quarter incurred. Selling and administrative expenses are all fixed and are paid in the quarter incurred. Therefore, they are budgeted at $34,000 per quarter, including $9,000 of depreciation. Required: Refer to the sales budget prepared in Task 1. Construct a cash budget for Neutron-X Company for the quarter ending 31 December 2021