Prepare a cash budget for Rogue Company for the month of September of this year. The following information

about the companys operations are as follows:

1. The ending cash balance for August was $50,000.
2. Actual sales for August were $100,000 and estimated sales for September are $150,000.
3. 10% of Augusts sales were cash and the same is expected for September. Accounts receivable collection pattern is to receive 70% in the same month of the sale and 30% is received in the month following the sale.
4. Purchase of inventory for August was $95,000 and for September it is estimated to be $80,000. Purchases are paid in cash in the month of purchase.
5. Selling and administrative expenses are expected to be 90,000 which includes $5,000 in depreciation expens
6. Dividends in August were $30,000 and will be paid in September.
7. The company must maintain a cash balance of 10,000 and has ready access for short term loans to finance cash deficiencies.

Required:

1. Prepare a schedule of cash collected for the budgeted month.
2. Prepare a cash budget, including borrowings if needed for the month.