Self-test Rose Fashions Ltd prepares monthly budgets for the 3 months ending 30 September 2010. Forecasts have been drawn up as follows:

Month (2010) Sales Purchases Overheads May 130,000 75,000 12,000 June 150,000 65,000 12,000 July 140,000 50,000 10,000 August 90,000 90,000 7,000 September 160,000 100,000 11,000 October 170,000 120,000 14,000 The following additional information is given:

(i) Bank balance on 1 July 2010 is estimated at £5,000.

(ii) 50 per cent of the sales are credit sales. Payments from debtors are received two months after the transaction takes place.

(iii) All purchases are on credit. Payments to suppliers are made one month after the transaction takes place.

(iv) The forecasts for the overheads, in the table above, refers to cash payments, which are paid when due.

(v) Wages are £35,000 per month and are paid by cheque.

(vi) Rent is £72,000 p.a. and is paid quarterly, in advance, on 1 January, 1 April, 1 July and 1 October.

(vii) Depreciation is estimated at £2,500 per month.

(viii) Corporation tax of £10,000 is due in August.

(ix) A new computer system was purchased in July for £50,000. Payment is due in August 2010.

You are required to prepare a cash budget for Rose Fashions Ltd for the 3 months ending 30 September 2010.