prepare a cash budget for october - december with a beginning cash balance of $18,500.

Sales for Studley Corp are as follows: August 185,000 , September 175,000, October 235,000, November $400,000, and December $515,000. Cash sales are 30% and Credit 70%. They collect 20% in the month of the sale, 60% in the month following the sale and the remaining 20%2 months following the sale. Studley purchases their raw materials in the month of the sale and pays for them the next month They are equal to 65% of sales. Other expenditures are $26,000 a month for rent, other expenses of $49,000 per month. The company plans a capital expenditure in November of $100,000. They plan to partially finance this with a bank loan of $35,000. Quarterly tax payments are made starting in October for $10,000. Prepare a cash budget for October through December with a beginnin cash balance of $18,500