2021. 10 Marks]. 10 pollowing particulars. You are required to prepare a cash budget for the three months ending 31 st December, 2022/11/27 1. Credit terms are: Sales terms: 20% sales are on cash basis; 40% of credit sales are collected next month and the balance in the following month Creditors terms: 20 crect teims are: Sales terms: 20% sales are on cash basis; 40% of credit sales are collected next month and the ballance in the following month. Creditors terms: -Materials 1 months -Wages 1/2 month - Overheads 1/4 month 2. Cash balance on October Ats expected to be 50,000. 3. A machinery will be installed in August, at a cost of 2,00,000. The monthly installment of 10,000 is payable fam october onwarcs. 4. Dividend at 5% on preference share capital of 3,00,000 will be paid on October 1 . 5. Advance to be received from sale of vehicle 10,000 in November. 6. Income-tax (advance) to be paid in December 10,000. For simplicity, ignore any interest on cash balances