At the end of January 2020, Findom Ltd Had a bank balance of $150,000 Cash budgeting is critical to the companys financial information needs The following information was extracted from the companys records The table below provides information on budgeted sales for the periods indicated Budgeted Sales 2020 $ January 2,400,000 February 1,500,000 March 2,800,000 April 1,900,000 May 3,000,000 June 2,500,000 July 2,700,000 August 2,000,000 The companys records indicated that 70 of the companys sales were for cash and 30 was received two months after sale In December 2019 sales was $2,200,000 Taxation for the first quarter of 2020 amounting to $1,750,000 was due in the last month of the first quarter In January 2020, the company bought a motor truck for $2,600,000 The agreement with the supplier was that a down payment of $800,000 would be made in the last month of the quarter in 2020 and the balance paid off in equal amounts during the first two months of the next quarter in 2020 The company is to receive insurance claim of $5,000,000 for damage done to its warehouse during heavy rains The amount is to be disbursed as follows $2,500,000 in March 2020 $2,000,000 in June 2020 and the balance in September 2020 Investments held at bank of China will mature in May 2020 The amount to be collected is expected to be $4,000,000 The company planned to pay dividends of $1,000,000 to its shareholders at the beginning of each quarter It also, planned to pay $1,000,000 in May 2020 for a plot of land to build a new warehouse In May 2020 the company sold a motor vehicle for $800,000 to one of its staff members while $250,000 written off as bad debt in 2018 was recovered in the second month of the second quarter in 2020 Rental income amounting to $1,260,000 per annum is budgeted for 2020 Operating expenses amounted to $870,000 is budgeted for 2020 Included in this figure is monthly depreciation of $25,000 Salesmen are paid commission based on the amounts collected from sales each month The amount is 5 of sales collection each month Miscellaneous expenses amounting to $60,000 monthly was not included in the operating expenses budget Records from the companys books revealed that 60 of purchases are for cash 20 is paid for one month later and the balance one month later Purchases for December 2019 were 1,350,000 The following table provides information on budgeted purchases for the periods indicated Budgeted Purchases 2020 $ January 1,000,000 February 1,200,000 March 2,000,000 April 1,400,000 May 1,600,000 June 1,600,000 July 1,500,000 August 1,100,000 Required A cash budget for February, March, April and May of 2020 Clearly show amounts for cash sales, credit sales, cash purchases, credit purchases and totals

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At the end of January 2020, Findom Ltd. Had a bank balance of $150,000. Cash budgeting is critical to the companys financial information needs. The

At the end of January 2020, Findom Ltd. Had a bank balance of $150,000. Cash budgeting is critical to the companys financial information needs. The following information was extracted from the companys records:

The table below provides information on budgeted sales for the periods indicated:

Budgeted Sales

2020	$
January	2,400,000
February	1,500,000
March	2,800,000
April	1,900,000
May	3,000,000
June	2,500,000
July	2,700,000
August	2,000,000

The companys records indicated that 70% of the companys sales were for cash; and 30% was received two months after sale. In December 2019 sales was $2,200,000

Taxation for the first quarter of 2020 amounting to $1,750,000 was due in the last month of the first quarter.
In January 2020, the company bought a motor truck for $2,600,000. The agreement with the supplier was that a down-payment of $800,000 would be made in the last month of the quarter in 2020 and the balance paid off in equal amounts during the first two months of the next quarter in 2020.
The company is to receive insurance claim of $5,000,000 for damage done to its warehouse during heavy rains. The amount is to be disbursed as follows: $2,500,000 in March 2020; $2,000,000 in June 2020; and the balance in September 2020.

Investments held at bank of China will mature in May 2020. The amount to be collected is expected to be $4,000,000. The company planned to pay dividends of $1,000,000 to its shareholders at the beginning of each quarter. It also, planned to pay $1,000,000 in May 2020 for a plot of land to build a new warehouse.

In May 2020 the company sold a motor vehicle for $800,000 to one of its staff members while $250,000 written off as bad debt in 2018 was recovered in the second month of the

second quarter in 2020. Rental income amounting to $1,260,000 per annum is budgeted for 2020.

Operating expenses amounted to $870,000 is budgeted for 2020. Included in this figure is monthly depreciation of $25,000.
Salesmen are paid commission based on the amounts collected from sales each month. The amount is 5% of sales collection each month. Miscellaneous expenses amounting to $60,000 monthly was not included in the operating expenses budget.
Records from the companys books revealed that 60% of purchases are for cash; 20% is paid for one month later; and the balance one month later. Purchases for December 2019 were 1,350,000. The following table provides information on budgeted purchases for the periods indicated:

Budgeted Purchases

2020	$
January	1,000,000
February	1,200,000
March	2,000,000
April	1,400,000
May	1,600,000
June	1,600,000
July	1,500,000
August	1,100,000

Required:

A cash budget for February, March, April and May of 2020. Clearly show amounts for cash sales, credit sales, cash purchases, credit purchases and totals.