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Please may you answer the following problem The Amber Magic Shoppe has forecast its sales revenues and purchases for the last 5 months of 2001

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Please may you answer the following problem

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The Amber Magic Shoppe has forecast its sales revenues and purchases for the last 5 months of 2001 to be as follows: Sales Purchases August 325.000 317.000 September 15.000 19.500 October 25.000 29.000 Nm'ember 30.000 20.000 December 26.000 24.000 65% of sales are on credit. 0n the basis of past experience. 50% of the accounts receivable are collected the month after the sale and the remainder are collected 2 months after the sale. Purchases are paid 30 days au they are incurred. The rm had a cash balance of $5,000 as of September 30'", and its minimum required cash balance is $4,000. It had no beginning loan balance. Prepare a cash budget for October, November and December

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