Prepare the firm's cash budget FOR OCTOBER only. S - 40% of sales are collected in the month the sale is made - 60% are collected 2 months after the sale. - Purchases (COGS) are 70% of sales - Purchases are made 4 months prior to the sale - Payment for purchases is made 2 months after items are purchased. - Ending cash balance September 31 st is $50,000; cumulative borrowing September 31st is $100,000 - The minimum cash balance is $50,000 - The interest rate on short-term borrowing is 2% per month (APR =24% ) Prepare the firm's cash budget FOR OCTOBER only. S - 40% of sales are collected in the month the sale is made - 60% are collected 2 months after the sale. - Purchases (COGS) are 70% of sales - Purchases are made 4 months prior to the sale - Payment for purchases is made 2 months after items are purchased. - Ending cash balance September 31 st is $50,000; cumulative borrowing September 31st is $100,000 - The minimum cash balance is $50,000 - The interest rate on short-term borrowing is 2% per month (APR =24% )