Sounds Limited needs a cash budget for the month of November. The following information is available: a. The cash balance on November 1 is $6,000 b. Sales for October and November are $80,000 and $60,000, respectively, Cash collections on sales are 30 percent in the month of sale and 65 percent in the month after the sale; 5 percent of sales are uncollectible. c. General expenses budgeted for November are $25,000 (depreciation represents $2,000 of this amount). d. Inventory purchases will total $30,000 in October and $40,000 in November. The company pays for half of its inventory purchases in the month of purchase and for the other half the month after purchase. e. The company will pay $4,000 in cash for office furniture in November. Sales commissions for November are budgeted at $12.000 1. The company maintains a minimum ending cash balance of $4,000 and can borrow from the bank in multiples of $100. All loans are repaid after 60 days. Prepare a cash budget for Sounds Limited for the month of November