In September, NEE Company, a merchandising firm that sells one product, assembled the following information and estimates to prepare a budget for October. Expected sales are 46,000 units at a price of $34 per unit. The cost of merchandise purchases is expected to be $22 per unit. Selling and administrative expenses are estimated at $335,000, of which $38,000 is depreciation. The October 1 cash balance is expected to be $46,000. NEE estimates that 80% of each month's sales are collected in the month of sale and the remaining 20% is collected in the month after sale. Expected sales for September are $900,000. The company pays for 30% of its merchandise purchases during the month of purchase, and pays the remaining 70% during the month following purchase. Merchandise purchases for September are estimated to be $720,000 and the purchase cost per unit is $22. All other out-of-pocket expenses are paid for in cash. Read the requirements. Requirement (a) NEE plans to purchase 35,000 units of merchandise in October. Prepare a cash budget or statement of estimated cash flows for October for the company. (Leave unused cells blank. Use a parentheses or a minus sign for a net cash outflow.) Cash inflows: Cash outflows: Net cash flow Opening cash Ending cash Submit quiz