Sweet Acacia Company prepares monthly cash budgets. Releyant data from operating bodgets for 2023 are as follows: Al sales are on account. Sweet Acacia expects collections to be 500 in the month of sale 40 -s in the first month following the saie, and 10% in the second month following the sale. It pays 30k of direct materials purchases in cash in the manth of purchase and the balance due in the inonth following the purchre, All sales are on account. Sweet Acacia expects collections to be 50% in the month of sale, 40% in the first month following the sale, and 10% in the second month following the sale. It pays 30% of direct materials purchases in cast in the manth of purchase and the balance due in the month following the purchase. Other data are as followi: 1. Credit sales. November 2022,$198,000, December 2022,$281,000 2. Purchases of direct materials December 2022$91,000 3. Other receipts: January -collection of December 31,2022 notes receivable 54,000 ; February -proceeds fromsale of wecurities 57.000 4. Other disbursements: February - payment of $21,000 for land The company expects its cash bulance on lanuary 1,2023, to be $51,000. it wants to maintain a minimum cash balance of $40,000. LORCH COMPANY Cash Budget For the Two Months Ending February 28, 2023