Brief Exercise 9-46 (Objective 3, Example 9.12) Preparing a Cash Budget Olivers Bistro provided the following information for the month of October: a. Sales are budgeted to be $395,000. About 80% of sales is cash; the remainder is on account. b. Olivers Bistro expects that, on average, 70% of credit sales will be paid in the month of sale, and 28% will be paid in the following month. c. Food and supplies purchases, all on account, are expected to be $285,000. Oliver pays 35% in the month of purchase and 65% in the month following purchase. d. Most of the work is done by Oliver and his wife, who typically withdraw $18,500 a month from the business as their salary