The Student Corporation (SC) purchases mugs with school logos on them from a supplier in Alberta and resells them to campus stores across the Maritimes. SC buys the mugs for $2 each and resells them for $5 each. Expected sales and units purchased for the next three months are: Budgeted Sales ($): July $15,000 August $35,000 September $10,000 Budgeted Purchases (In units) 5,400 4,000 1,400 Cash from sales is collected as follows: Month of sale First month following sale Second month following sale 40% 30% 30% The company requires a minimum cash balance of $5,000 to start a month. The beginning cash balance in September is budgeted to be $5,000. Required: a. Given the information on budgeted sales found above, prepare a schedule showing the expected cash collections in the month of September. b. The following additional information has been provided for September: Cash disbursements (inventory purchases) for September Operating Expenses (all paid in September) Depreciation expense for September Dividends paid in September $6,000 $13,500 $1,200 $1,000 Prepare a cash budget for the month of September, assuming the cash collections you completed in part a) was $18,000 and using the information noted in part b). The company can borrow any dollar amount. Assume interest expense relates to the previous month's borrowings and is paid at the beginning of the month. The interest expense paid in September is $100