1.10 Greenacres is a garden design and landscaping business. At 30 June 2021, it had a bank balance of $26 500. Provided below are estimates for receipts and payments for the three months ending 30 September 2021. July August September Receipts Fees $140 000 $160 000 $200 000 Proceeds from the sale of surplus 100 000 non-current assets Payments Salaries and wages 70000 70 000 70 000 Supplies 8 500 9 200 12 000 New equipment 120000 Purchase of plants 42 00 45 00 6100 Required: (a) Prepare a monthly cash budget for the three months ending 30 September 2021. Solution: (a) ANTICIPATED RECEIPTS Fees Sale of surplus non-current assets Eta/recalls ANTICIPATED PAYME NTS Salaries and wages Supplies New equipment Plants Total payments Excess (decit) receipts over payments Bank balance at beginning of month Bank balance at end of month 140 000 140 000 70 000 8 500 120 000 42 000 240 500 (100 500) 26 500 (74 000) 160 000 100 000 260 000 70000 9 200 45 000 124 200 135 800 (74 000) 61 800 200 000 200 000 70 000 12 000 61 000 143 000 57 000 61 800 118 800