Prepare i cash budget for Sharpe covering the first 7 months of 2014. Sharpe has $200,000 in notes payable due in July that must be repaid nr extension. Will the firm have ample cash to the notes- Lewis collects 20 percent of its sales in the month of the sale, 50 percent in the roaming the sale, and the remaining 30 percent 2 months following the sale. Dunne November an: December of 2013, Lewis's sales were $220,000 and $175,000, respectively. Lewis purchases raw materials 2 months in advance of its sales. These purchases are equal 65 percent of its final sales. The supplier is paid 1 month after delivery. Thus, purchases far April sales are made in February and payment is made in March