QUESTION 28 (5 points) In preparation for the quarterly cash budget, the following revenue and cost nformation bare been compiled. Prepare and evaluate a cash budget for the month of October based on the information showa below. Month Sales $3,000,000 $4.500,000 $1,000,000 Purchases August (actual) September (actual) October (forecast) $3,500,000 $2,000,000 s 500,000 .The firm collects 60 percent of sales for cash and 40 percent of its sales one month later .The firm pays cash for 40 percent of its purchases .The firm pays for 60 percent of its purchases the followig moath Salaries and wages amount to 15 percent of the preceding month Lease payments of $100,000 must be made each month cales - Depreciation expense each month of $45,000 . The firm has a beginning cash balance in October of $100.000 and mauntains a minimum cash balance of $200,000 CsS