Pathp Remaining Time: 1 hour, 19 minutes, 13 seconds. Question Completion Status: QUESTION 15 Bontsahoy Company, has budgeted sales revenues as follows: SEPT OCT NOV Credit sales $135,000 $125,000 $ 90,000 Cash sales 90.000 255.000 195.000 Total sales $225.000 $380.000 $285.000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 50% is paid in the month of purchase and 50% in the month following purchase. Budgeted inventory purchases are: April $300,000 May 240,000 June 105,000 Other cash disbursements budgeted: (a) seling and administrative expenses of 548,000 each month, (b) dividends of $105,000 will be paid in October, and (e) purchase of equipment in November for $30,000 sh. The company wishes to maintain a minimum cash balance of $50,000 at the end of each month. The company borrow money from the bank at % interest if necessary to maintain the minimum cash balance. Borrowed money is repaid in months when there is an excess cash balance. The beginning cash balance on OCT 1 was $50,000. Assume that borrowed money in this case is for one month. Instructions: Present the analysis in good fomat. Mint Construct a table for best results (4 columns and add lines as needed). Otherwise use the space bar, not the tab key, for spacing al Prepare a cash budget for the month of OCTOBER Be sure prepare separate schedule for expected collections from al cash sales and credit customers. Also, present the projected cash payments for inventory purchases in a separate schedule [b] For the month of NOVEMBER, prepare a separate schedule for expected collections from a cash sales and (b) credit customers