Janet Wooster owns a retail store that sells new and used sporting equipment. Janet has requested a cash budget for October. After examining the records of the company, you find the following: AA X a. Cash balance on October 1 is $1,118. b. Actual sales for August and September are as follows: Cash sales Credit sales Total sales August S 6,000 58.000 564.000 September $ 4.500 62.000 566,500 c. Credit sales are collected over a three-month period: 40 percent in the month of sale, 36 percent in the next month, and 22 percent in the second month after the sale. The remaining sales are uncollectible. d. Inventory purchases average 70 percent of a month's total sales. Of those purchases, 45 percentare paid for in the month of purchase. The remaining 55 percent are paid for in the following month e Salaries and wages total 53.850 per month 1. Rent is 53.150 per month Janet Wooster owns a retail store that sells new and used sporting equipment. Janet has requested a cash budget for October. After examining the records of the company, you find the following: AA X a. Cash balance on October 1 is $1,118. b. Actual sales for August and September are as follows: Cash sales Credit sales Total sales August S 6,000 58.000 564.000 September $ 4.500 62.000 566,500 c. Credit sales are collected over a three-month period: 40 percent in the month of sale, 36 percent in the next month, and 22 percent in the second month after the sale. The remaining sales are uncollectible. d. Inventory purchases average 70 percent of a month's total sales. Of those purchases, 45 percentare paid for in the month of purchase. The remaining 55 percent are paid for in the following month e Salaries and wages total 53.850 per month 1. Rent is 53.150 per month