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ABC Ltd . Has the following revenue and expenditure projections for the six month period July to December. All sales are on credit ( 2

ABC Ltd. Has the following revenue and expenditure projections for the six month period July to December. All sales are on credit (2/10 net 40), and ABC receives 30 days credit from its suppliers. Sales for July to December (in $Million) are 80,100,85,120,150,195. From experience, ABC expects to collect 15% of any month's sales in that same month, 65% in the following month, and the remaining 20% in the second month following the month of sale. Its expenses as a % of the month's projected sales are for raw material (55%) paid in the following month, wages and salaries (10%), lease payments (5%). Taxes are paid at the end of each quarter and are $18M.
Set out ABC's cash budget for the Oct-Dec quarter.

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