it's of 24 marks and two different sections please answer soon

3. Question 1: Cash Budget - Version B (24 marks) Sushi House has budgeted sales revenues as follows: \begin{tabular}{|r} 6 \\ 7 \\ 8 \\ 9 \\ 10 \\ \hline 11 \end{tabular} 11 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. 12 13 Instructions: 14 1. Start with a schedule of cash collections for July and August to support the cash budget. (5 marks) 15 C 2. Prepare a cash budget for the month of July and August. Show the detailed items. ( 16 marks) Purchases of inventory are all on credit. 70% of purchases is paid in the month of purchase and 30% in the month following purchase. Other cash disbursements budgeted: 22 2. Prepare a cesh budget for the month of July and August. Show the detailed items. ( 16 marks) 23 24 Surchases of inventory are all on credit. 70% of purchases is paid in the month of purchase and 30% in the month following purchase. Other cash disbursements budgeted: selling and administrative expenses of $54,000 each month, which includes $10,000 depreciation. Dividends of $30,000 will be paid in July, and purchase of a computer in August for $3,000 cash. The beginning cash balance on July 1 was $25,000. The company wishes to maintain a minimum cash balance of $20,000 at the end of each month. The company borrows money from the bank at 12% annual interest if necessary to maintain the minimum cash balance. Borrowed money and interest is repaid in months when there is an excess cash balance