2: (a) Kellox Co has prepared the following budgeted information: Estimated sales (S) March 2022 200,000 April 2022 500,000 (TOTAL-20 marks) 20% of total sales is on cash basis with the remaining 80% on credit basis. Of the credit sales, only 25% of are collected in the same month in which the sale is made, and the remaining 75% of credit sales are collected one month later. Depreciation expenses for each month is $25,000. Other monthly fixed expenses are $32,000. Variable expenses are projected to be 60% of total sales. A $60,000 note payable and $2,000 interest on the note are due for payment on 30 April 2022. All expenses are paid in the same month that the expenses are incurred. The cash balance as at 1 April 2022 was estimated to be $80,000. Required: Prepare the cash budget for Kellox Co for the month of April 2022. (10 marks)