A) Prepare the cash budget of ABACUS Inc. for the quarter October to December, based upon the following data and additional information. (14 marks) Sales Production Purchase Wages Selling Month Overheads Overheads ($) ($) (5) ($) July 90,000 30,000 9,000 7,850 5,580 August 93,500 23,000 9,400 9,300 8,820 September 86,000 48,900 9,900 3.610 9,470 October 78,000 34,560 7,000 3,510 6,880 November 78,500 35.980 18.600 3,400 7,000 December 88,600 37,400 8.000 3,250 7,680 Additional Information: The Cash balance at 1 October is $ 850000 Purchases are 50% in cash and balance are paid the month Following. Sales are 50% Cash, 40% Received month following and Balance 10% in the month following the second month. A plot of land will be purchased and to be paid in October $ 75000. Wages are paid one month in arrear and all overheads are paid two months in arrear ABC Ltd is due to repay a loan of $ 8000 in November. A dividend of $ 80,000 is expected to be paid in November