Question 4 Henna Hair hired **YOU** to produce the cash budget. The company had sales of 115,000$ in July, 185,000$ in August, and 195,000$ in September. The company forecasts sales for the coming months as follows: October $ 115,000 November $ 115,000 December $ 135,000 Additional information: The company had a cash balance of 125,000$ on October 1st. 50% of the company's sales is cash. Collections are collected as follows: 50% during the month of sale 35% during the first month following the sale 15% during the second month following the sale The company anticipates the following cash inflows: October $ 7,500 Sale of assets in cash November $ 8,500 Tax return in cash December $ 9,500 Reimbursement of fees in cash Credit purchases for September amounted to 105,000$ The forecast for the next three months is as follows: October $ 104,000 November $ 103,000 December $ 102,000 50% of crcedit purchases are paid in the month of purchase, and the balance is paid in the following month. Rent paid amounts is 16,000$ per month. Salaraies and wages amount to 82,000$ per month. An interest payment 9,500$ is due in November. Equipment valued at 17,700$ will be purchased in cash in October. A fine of 9,990$ is payable in December. Required Prepare the cash budget for the months of October, November, and December