David Llewelyn has been advised by his bank manager that he ought to provide a forecast of his cash position at the end of each month. This is to ensure that his cash inputs will be sufficient to allow a bank loan to be repaid when due and to check that his outgoings are properly controlled. It is estimated that at 30 June 2013 his current account will be $£ 5,000$ in credit, whereas the amount owing in respect of the bank loan taken out on 1 July 2008 will be $£ 15,000$. Monthly deductions from the current account balance amount to $£ 242$ including interest charges on account of this loan. In addition to these outgoings, David has to allow for the following:

(i) The payment of wages of $£ 2,000$ per month.

(ii) Personal drawings of $£ 500$ per month.

(iii) On average David earns a margin of $15 \%$ (of sales) and expects to sell inventory purchased in the previous month. Of the sales in any one month, $20 \%$ are paid for within that month, $70 \%$ the following month and the remainder two months after sale. Other receipts from debtors are expected to be $£ 40,000$ in July 2013, $£ 32,000$ in August 2013 and $£ 4,000$ in September 2013.

(iv) Purchases of supplies will amount to $£ 38,250$ per month from July 2013 payable one month in arrears. In addition, purchases of $£ 7,500$ to increase inventory will be delivered in September 2013 and must be paid for in October 2013. Creditors of $£ 34,000$ for purchases made in June 2013 are to be paid in July 2013.

(v) Monthly payments to the Revenue and Customs for the taxation of his employees' earnings will amount to $£ 500$ per month.

(vi) Rent which has to be paid quarterly in advance amounts to $£ 5,000$ per annum. These payments commenced in January 2013.

(vii) Business rates are to be paid in two instalments as due in October 2013 and in March 2014. This estimated expenditure will amount to $£ 4,500$ per annum.

(viii) Payment of Value Added Tax to H.M. Revenue and Customs of $£ 5,000$ in July 2013 and every third month thereafter (but see also (ix)).

(ix) David intends to purchase a van for $£ 8,150$ in August 2013. He will then be entitled to deduct $£ 1,050$ from the VAT payment due to H.M. Revenue and Customs in October 2013.

\section*{Required:}

A forecast cash flow statement in columnar form showing the estimated current account balance at the close of each of the four months ending 31 October 2013.