NEED HELP ASAP PLS.

Sushi House has budgeted sales revenues as follows: June July Avt Cash sales $ 24,000 S. 20,000 $ 30,000 Credit sales 85.000 80.000 72.000 Total sales $100.000 S100.000 SO2.000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 4096 will be collected in the following month Purchases of inventory are all on credit. 70% of purchases is paid in the month of purchase and 30% in the month following purchase. Budgeted inventory purchas June $45,000 July 43,000 August 40,000 Other cash disbursements budgeted: Selling and administrative expenses of $54,000 each month, which includes $10,000 depreciation. Olvidends of $30,000 will be paid in July, and purchase of a computer in August for $3,000 cash. he 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 9% annual interest if necessary to maintain the minimum cash balance. arrowed money and interest is repaid in months when there is an excess cash balance. structions: Start with a schedule of cash collections for July and August to support the cash budget. (6 marks) H 30 2. Prepare a cash budget for the month of July and August. Show the detailed items. ( 16 marks) comment on why cash budget is important for Sushi House? (1 mark)