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Oncida Company's operations began in August. August sales were $215,000 and purchases were $125,000.

The beginning cash balance for September is $5,000. Oneida's owner approaches the bank for a $100,000

loan to be made on September 2 and repaid on November 30. The bank's loan officer asks the owner to

prepare monthly cash budgets. Its budgeted sales, merchandise purchases, and cash payments for other ex-

penses for the next three months follow.