IV. Barbie Distributors wants a projection of cash receipts and cash payments for the month of November. On November 28, a note will be payable in the amount of $ 12,000, including interest. The cash balance on November 1 is $ 27,000. Accountable to merchandise creditors at the end of October were $ 206,000. The companys experience indicates that 75 percent of sales will be collected during the month of sale, 25 percent in the month following the sales. The company sells various products at an average price of $ 10 per unit. Selected sale figures are as follows: September October November December Sales Units 40,000 50,000 80,000 60,000 Because purchases are payable within 15 days approximately 50 percent of the purchases in a given month are paid in the following month. The average cost of units purchased is $ 6 per unit. Inventories at the end of each month are maintained at a level of 2,000 units plus 20 percent of the number of units that will be sold in the following month. The inventory on October 1 amounted to 9,000 units. Budgeted operating expenses for November are $250,000. Of this amount, $ 50,000 is considered depreciation expenses. All operating expenses, other than depreciation are paid in the month in which they are incurred. The company expects to sell fully depreciated equipment in November for $ 10,000 cash. (Income) Required : Prepare a cash budget for the month of November