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Ali is a sole trader who buys and sells mechanical goods. The following sales are expected over the six-month period from November 2019 to
Ali is a sole trader who buys and sells mechanical goods. The following sales are expected over the six-month period from November 2019 to April 2020 Purchases Sales Nov OMR 30000 OMR 29000 Dec OMR 32000 OMR 14000 Jan OMR 24000 OMR 30000 Feb OMR 16000 OMR 22000 Mar OMR 24000 OMR 28000 Apr OMR 18000 OMR 20000 Additional Information: 1. Salaries are paid each month of OMR 12000, which are paid in month that they are incurred 2. Wages are paid each month of OMR 2000, which are paid in month that they are incurred. 3. On 1 Feb 2020, a new machine is purchased for OMR 8000. 4. Sales are all on credit and we allow a month credit period 5. Purchases are all in cash 6. The balance at the bank as at 31st December 2019 was OMR 1000 Prepare a cash budget for the four month period ending 30 April 2020.
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