You are provided with the following Sales and selling and administrative expenses Salhiya World Co. for the last quarter of Dsles Budget Budget, Purchases Budget budget for the year 2019. increments at %10 in balance. (Cash balance Cash sa 5,000 (D Purchase Budget Cash Prcases 12.000 18,000 5,00 000 10000 21,000 Total Purchases 16,000 25,000 35000 Budget Odt 8,000 9000 8,60025,600 4,8003,600 5,400 3,800 120 120120S00 planning to purchase new 2019. Prepare the following Requirements: Assuming Salhiya world is furniture for $10,000 cash during Oct. budgets for the last quarter of the year 2019: 1-Collections from customers budget be collected during the following month of Accounts Receivable at Sep.30, 2019 Assume all credit sales will sale expected to be $10,000) 2- Payments for purchases budget Assume all credit purchases will be paid during the following month of purchases Accounts Payable at dSep,.30 2019 is expected to be $5,000) 3- Cash budget assume the company wishes to maintain a minimum cash balance of $ 75,000 at the e each month. To maintain the minimum cash balance, the company can borrow from the bank in $ 1,000 increments at %10 interest and the company should payback borrowed money when there an excess cash balance. (Cash balance at dec.31 2019 is expected to be $60,000) End ot document