Question 5 (7 points) Domino Inc. is preparing a budget for August 2021, the first month of operations, and has provided the following information: The opening cash balance for August is $2,500 . Cash collections are expected to be $35,000 during August. Inventory purchases are budgeted at $100,000, and are paid 30% in the month of purchase, and the balance in the next month. . Other cash expenses budgeted for August office salaries of $4,000, and administrative expenses of $37,000, which includes depreciation of $1,000 . The company maintains a minimum cash balance of $2,000. An open line of credit is available for borrowing as needed. Interest will be paid in the following month. Required: Prepare a Cash Budget, in good form, for August (7 marks) 8 Format V BI U Domino Inc Cash Budget For the Month Ended August 31, 2021