Koffi Cup is a locally-owned caf which sells many selection of freshly-brewed coffee. Koffi has the following information for the November and December of the current year: Budgeted sales for November are 15,000 cups and 22,000 cups in December. Each cup sells for RM6.50. Half of sales are on cash. The company expects to collect 80% of credit sales in the month of the sale and 20% in the month after the sale. All necessary raw materials are purchased on account. Purchases are paid 60% in the month of the purchase and 40% in the following month. Purchases for November are estimated to be RM120,000 and RM210,000 in December. Monthly expenses include: . Wages RM12,000 Rent RM2,000 Utilities RM2,500 Insurance RM1,500 Depreciation RM1,800 . Cash balance on November 1st was RM5,000. The company has a policy to maintain a minimum cash balance of RM5,000. If necessary the company will borrow to meet its short-term needs. All borrowing is done at the beginning of the month and all payments on principal and Interest are made at the end of the next month. The annual interest rate is 7%. The company must borrow in multiples of RM1,000. October sales were 18,000 cup and raw materials purchased equal RM140,000. Required: Prepare a cash budget for November and December. (22 marks)