Industriаl Gаs Cоrpоrаtiоn supplies acetylene and other compressed gases to industry. Data regarding the store's operations for November follow:The beginning cash balance is $11,800The $20,000 balance in Accounts Receivable on November 1 is from sales on account in October.Sales are budgeted at $300,000 for November.Collections are expected to be 40% in the month of sale, and 60% in the month following the sale.Purchases of merchandise are expected to be $225,000.Payment for merchandise inventory is made 55% in the month of purchase and 45% the following month. The Accounts Payable balance is projected to be zero on November 1.Other monthly expenses to be paid in cash are $41,500.Monthly depreciation is $11,300The desired cash balance at the end of each month is $30,000The company can borrow up to $50,000 from their local bank with interest due the following month.Required:Prepare a cash budget for November. Show all the values you use to prepare the budget.