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The following information pertains to Amigo Corporation: Month Sales Purchases July $30,000 $10,000 August 34,000 12,000 September 38,000 14,000 October 42,000 16,000 November 48,000

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The following information pertains to Amigo Corporation: Month Sales Purchases July $30,000 $10,000 August 34,000 12,000 September 38,000 14,000 October 42,000 16,000 November 48,000 18,000 December 60,000 20,000 Cash is collected from customers in the following manner: Month of sale Month following sale Two months following sale Amount uncollectible 45% 40% 10% 5% 50% of purchases are paid for in cash in the month of purchase, and the other 50% is paid the following month. Required: Complete the cash budget for the 4th quarter.

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