Problem 4-24 (Algo) Cash budget [LO4-2] Graham Potato Company has projected sales or $7,800 in September, $11,500 in October, $17,800 in Novernber, and $13,800 in December, Of the company's sales, 20 percent are pald for by cash and 80 percent are sold on credit. Experlence showis that 40 percent of accounts recelvable are poid in the month afer the sale, while the remainthg 60 percent are patd two months after Determine collections for November and December. Also assume Graham's cash payments for November and December are $15,000 and $7,500, respectively, The beginning cash balance in November is $5,000, which is the desired minimum balance. Q. Prepare a cash recelpts schedule for November and December b. Prepore a cash budget with borrowing needed or repayments for November and December. Note: Negetive amounts should be indlicated by a minus sign. Assume the November beginning loan balance is 50 . Leave no cells blenk be certeln to enter 0 wherever required