Problem - Cash Budget The following information pertains to Amigo Corporation: Month July August September October November December Sales Purchases $60,000 $20,000 68,000 24,000 76,000 28,000 84,000 32,000 96,000 36,000 120,000 40,000 10 + 5 Cash is collected from customers in the following manner: Month of sale 40% Month following sale 50% Two month 10% 50% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. w Required: a. Prepare a summary of cash collections and disbursements for the 4th quarter. b. Prepare a cash budget, when the company requires the balance in Cash account minimum $25,000