2 Prop Bestari Sdn. Bhd. is a company produces kitchen utensils. The company prepares its financial budgets quarterly. The following information is available for the third quarter of 2019: Cash Sales Credit sales Purchases Overhead expenses Wages and Salaries March RM 25,000 180,000 92,400 55,000 April RM 26,500 193,000 98,000 56,800 May RM 28.200 200,500 100,000 60.900 June RM 27,500 224,000 112.000 62.900 July RM 29,400 250,000 120,700 66.000 50,000 60,000 62.000 68,000 69,500 Additional information: 0 It is estimated that 40% of the debtors will be paying in the month following sales. The remaining 60% of the credit sales will be collected in two months after sales with no discount m) All purchases are on credit terms. 30% of the purchases will be settled in the month of purchase. The remaining balance will be settled in the following months after purchase. (II) Payments for overhead expenses are made in the month they are incurred. Included in the overhead expenses is a monthly depreciation of RM14,500 (iv) Wages and salaries are paid in the month they incurred. (w) In May 2019, the company will receive income from investment amounting to RM105,000 cash. (vi) Due to increase in demand, the company decided to purchase new machine. The new machine will be paid cash RM60,000 in June 2019. (vii) Taxation amounting to RM26,780 is to be paid in July 2019. (vill) The cash balance on 31 April 2019 is expected to be RM21,200. Required: Prepare a monthly cash budget for May, June and July 2019. (1 mark)