Adam Caprice runs a business which retails high quality clothing. It is particularly busy during the festive season. The budgeted sales and purchases figures for September 2018 to January 2019 are as follows: Sept RM 215 000 175 000 Oct Nov RM RM 225 000 310 000 190 000 245 000 Dec RM 425 000 135 000 Jan RM 195 000 135 000 Sales Purchases Additional information: 50% of sales are expected to be paid for by cash and these customers will receive a 6% discount. 50% of the remaining sales are expected to be paid in the following month and these customers will receive a 3% discount. The remainder will pay 2 months after the sale. 30% of purchases are expected to be paid for in the month of purchase and will receive a 4% discount. 40% of purchases are expected to be paid for in the month after purchase and will receive a 2% discount. The remainder are paid for 2 months after purchase. The inventories held on 1 November 2018 are budgeted at RM180 000. The inventories held on 31 January 2019 are budgeted at RM129 000. Total general expenses are budgeted at RM18 000 in November 2018 with an expected 10% rise in December and a 15% reduction on the December total) in January 2019. All general expenses are expected to be paid in full in the month in which they occur. The depreciation on the non-current assets acquired before November 2018 will be RM1,750 per month. On 1 November 2018 Adam will acquire a new storage system at a cost of RM24,000 and will pay 50% of the cost immediately. The remainder will be paid in equal instalments over the following 12 months without any interest charges. This new non-current asset will be depreciated at 10% per annum on a monthly basis. Adam will make drawings of RM3,000 every month except for December 2018. In this month he expects to draw 1.5% of the month's expected sales. The bank balance at 1 November 2018 is expected to be RM34,850. Required: (i) Prepare a cash budget, in columnar format, for the 3 months commencing with November 2018. (27 marks) (ii) Explain THREE (3) advantages of budgeting