2020 November Revenue 12 000 Purchases December 13 000 8 500 Green has been in business in several years and has provided the following budgeted information. Depreciation 660 Office expenses 3 150 7 000 3 100 2021 January 15 000 9 000 60 3 100 February 13 000 7 500 60 3 400 March 14.000 9 500 75 3 550 April 16 000 6 500 75 3 350 Additional information 1. 10% of all revenue are cash sales 2. 50% of credit customers pay in the month following sale and receive a 4% cash discount. Remaining trade receivables pay in the month following sale. 3. All purchases are on credit and are paid for in the month following purchase. 4. Annual insurance of $4 500 is paid in two equal instalments on 1 February and 1 August each year. 5. Dividend amounting to $1 550 is expected to be paid on 25 January 2021. 6. Office expenses are paid one month in arrears. 7. Green contracted a 10% bank loan of $5000, 1 March 2021 to buy some non current assets. 8. The balance at bank is expected to be $652 overdrawn. REQUIRED (a) Prepare a cash budget for each of the four months ending 30 April 2021. (20 marks) (b) What is zero based budgeting and how does it differ from traditional forms of budgeting? (10 marks)