Question 4 (10 Marks) ACDC Pty Ltd needs a cash budget for the month of September 2019. The following information is available: 1. The cash balance on September 1 is $7,500 2. Actual sales for July and August, and expected sales for September are: July August September Cash sales $5,000 $5,250 $6,500 Credit sales 25,000 30,000 35,000 Total sales 30,000 35,250 41,500 Credit sales are collected over a three-month period in the ratio of 60 percent, 30 percent, 9 percent, with 1 percent uncollectible. 3. Purchases of inventory will total $18,000 for September. Seventy percent of a month's purchases are paid during the month of purchase. Accounts payable for August purchases total $6,150, which will be paid in September 4. Selling and administration expenses are budgeted at $14,000 for September. of this $5,000 is for depreciation. 5. Dividends of $5,000 will be paid during September, and equipment costing $12,000 will be purchased. 6. The company must maintain a minimum of cash balance of $5,000. An overdraft facility is available from the company's bank to bolster the cash position as needed. Required: Prepare a cash budget for the month of September showing your supporting calculations and heading. Indicate in the financing section any borrowing that will be necessary during the month