Cash Budget Graham Potato Company has projected sales of $15,600 in September, $18,000 in October, $25,600 in November, and $21,600 in December. Of the company's sales, 25 percent are paid for by cash and 75 percent are sold on credit. Experience shows that 40 percent of accounts receivable are paid in the month after the sale, while the remaining 60 percent are paid two months after. Determine collections for November and December Also assume Graham's cash payments for November and December are $-21,500 and $-14,000, respectively. The beginning cash balance in November is $5,000 $5,000, which is the desired minimum balance. There is no bank loan outstanding at the beginning of November Required: A. Prepare a cash receipts schedule for November and December (enter all numbers as positive whole numbers) Sep Oct Nov Total sales $15,600 $18,000 $25,600 $21,600 Credit sales Dec Cash sales One month after the sale Two months after the sale Total cash receipts B. Prepare a cash budget with borrowing needed or repayments for November and December: negative numbers should be indicated by a minus sign) Nov Dec Cash Budget Cash receipts Cash payments Total cash receipts B. Prepare a cash budget with borrowing needed or repayments for November and December: (negative numbers should be indicated by a minus sign) Nov Dec $ Cash Budget Cash receipts Cash payments Jenter as a negative amount) Net cash flow fuse a minus sign for negative amounts) Beginning cash balance Cumulative cash balance Monthly borrowing (repayment) (enter borrowing as positive, repayment as negative Ending cash balance 5,000 Dec Nov $0 Bank Loan Beginning loan balance Monthly borrowing (repayment) Jenter borrowing as positive repayment as negative) Ending loan balance $ 16