LMN Corp. provided the following data for the month of September 2023:

Cash balance on September 1: $25,000

Receipts:

• Cash Sales: $28,000
• Collection from Accounts Receivable: $12,000
• Insurance Claim Received: $3,000

Payments:

• Salaries: $14,000
• Rent: $4,000
• Utilities: $1,500
• Maintenance: $2,500

Requirements:

1. Prepare the cash receipts journal for September 2023.
2. Prepare the cash payments journal for September 2023.
3. Prepare the cash budget for September 2023.
4. Determine the cash balance as of September 30, 2023.
5. Discuss the impact of the insurance claim received on the cash position.