The following information is available regarding accounts receivable. All sales are on credit. 80% of credit sales are received in the month after the sale; these debtors receive a 3% discount 10% of credit sales are received in the second month after sale 8% of credit sales are received in the third month after sale 2% of credit sales are written off as bad debts in the third month after the sale Credit sales are expected to be: July $200,000 August $210,000, September $225,000 October $270,000 November $300,000 December $350,000 Strawberry Fields Ltd have provided the following payment information: Strawberry Fields Ltd has a Term Deposit of $30,000 and earns interest at 2.5% per annum. Interest is received monthly. Purchases of raw materials are all on credit and are paid for in the month following purchase. Estimates for credit purchases are: September $58,000 October $60,000 November $55,000 Factory expenses are estimated to be $30,000 per month and include depreciation of $3,000 per month Other expenses are estimated to be $10,000 per month and include bad debts Wages are estimated to be $80,000 per month, increasing by 5% in December The business is repaying an existing loan. They will pay $15,000 each month: October to December. The loan will be fully repaid by the end of December. New farm machinery will be purchased in December, and paid in full, $65,000. A dividend payment of $30,000 is due to be paid in both September and December. Additional Information: Bank Balance 1 October 2022 is $15,000 in overdraft The secured limit of the overdraft is $30,000. REQUIRED Using Excel, prepare the following for Strawberry Fields Ltd: A statement of estimated receipts from accounts receivable. A cash budget for the months of October, November and December 2022