As part of your Community Interaction Project for 2021, you a he community (both DoD and Public) and providing assistan wners and in return gaining practical experience. UESTION 1 (20 marks; 36 minutes) he owner of a building supply company has requested a cash budge camining the records of the company, you find the following: Cash balance on 1 June is R736 Actual sales for April and May are as follows: April May Cash sales R10 000 R18 000 Credit sales R28 900 R35 000 Total sales R38 900 R53 000 Credit sales are collected over a three-month period: 40% in le, 30% in the second month, and 20% in the third month. The sales e third month are subject to a 2% late fee, which is paid by those dition to what they owe. The remaining sales are uncollectible. Inventory purchases average 64% of a month's total sales chases, 20% are paid in the month of purchase. The remaining 80% he following month Salaries and wages total R11 750 per month, including a R4 500 he owner Rent is R4 100 per month. Taxes to be paid in June are R6 780. The owner also tells you that he expects cash sales of R18 600 s of R54 000 for June. No minimum cash balance is required. The ov pany doesn't have access to short term loans. red: a Prepare a cash budget for June. Show all calculations