Question 2 (part 1 of 2) The Dudley Merchandising Company has planned the following sales for the next three months Sales are made \20 in cash and \80 on account. From experience, the company has learned that a month's sales on account are collected according to the following pattern: Dudley pays \70 of its inventory purchases in the month of purchase, the rest in the following month of purchase. Half of the equipment purchases are paid in the month of purchase and the balance in the first month following the purchase. Dudley pays \70 of its inventory purchases in the month of purchase, the rest in the following month of purchase. Half of the equipment purchases are paid in the month of purchase and the balance in the first month following the purchase. Required: The company requires a minimum cash balance of \\( \\$ 5,000 \\) to start a month. Dudley has a line of credit with its bank that allows Dudley to borrow any amount up to \\( \\$ 200,000 \\). Its bank charges a simple interest rate of \1.8 per month on borrowed fund. Interest must be paid at the end of each month. All borrowing is assumed to occur at the beginning of a month. Dudley would repay amount borrowed as soon as it can at the end of each month. The cash balance on March 1 is budgeted to be \\( \\$ 6,000 \\). Using the budgeted cash receipts you computed for part a) and given data, prepare a cash budget in good form for the month of March Calculate all amounts to the nearest full dollar