As the manager of See Clearly, a company that sells sunglassesr you are required to prepare a cash budget for the month of April using the following information March $ April 3; Reoeipts from Accounts Receivable 160 000 128 000 Cash sales 32 000 25 000 Inventory purchases 48 000 40 000 [Selling and administration expenses (includes $500 depreciation expense) 21 500 27 500 Dividends paid 11 200 Cash sale of equipment 5 000 Computer purchase for cash 12 000 Bank interest received 300 The following information is also provided: purchases of inventory are all on credit and fullyr paid in the month after purchase Selling and administration expenses are paid in the month they occurred The beginning cash balance on 1St April $15 400 For each question below use the above information (It will be necessary for you to prepare the cash budget to be able to provide the correct solutions} 1. What would be the total of the expected cash receipts? Choose... 2. What would be the total of the expected cash payments? Choose... 3. Calculate the ending balance for the 30'\" April: Choose... 3 4. What would the expected May payment of inventory purchases be? Choose... + 5. Is the excess or deficit of receipts over payments: Choose... + 6. Why is it necessary to prepare a cash budget? Choose.. $ 7. What would be the amount of Selling and administration expenses recorded in the March cash budget? Choose... +