Case 2. (25 points) Here are some important figures from the budget of Wise Corporation for the third quarter of 2020: August July $1,275,800 September $1,096,300 Credit sales $1,483,500 890,160 765,480 657,780 Credit purchases Cash disbursements Wages, taxes, and expenses 348,600 395,620 337,150 Interest 29.900 29,900 29.900 Equipment 0 158.900 96.300 5% Credit sales collections Collected in month of sale 35% Collected month after sale 60% Never collected June credit sales $1,135,020 June credit purchases $ 681,012 Beginning cash balance $ 425,000 All credit purchases are paid in the following month after the purchase. a) Using the above information, prepare a cash budget for the company. (15 points) b) Describe the steps you follow in preparing a cash budget. (10 points)