Question 2 (9 points) Excavation Inc. requires a cash budget for the month ended October 31, 2021 using the following information: . at September 30, 2021 there will be $5,000 in the bank, as well as accounts receivable of $7,000 to be collected in October . budgeted sales are $100,000 of which 75% are on account; historically, 80% of sales on account are collected in the month of sale and 18% are collected in the following month . the company plans to purchase a new machine during October; the purchase price is $45,000 and will be paid using a new bank loan . budgeted monthly expenses are as follows: wages $50,000; depreciation $25,000 (including depreciation on the new machine purchase); advertising $3,000 Required: Prepare a cash budget, in good form, for October. (9 marks) Format V BI U