C6) Fashionex Ltd., a distributor of fashion clothes, normally collects its receivables 25% in month of sale, 55% the subsequent month and 18% in the third month. Historically, 2% is not collected (is a bad debt). Fashionex Ltd.pays for its purchases 15% in the month of purchase and 85% in the next month. Sales during February March and April were budgeted to be $163,000, 222,000 and $198,000, respectively. Salaries are paid in the month they incur. Salaries for February, March and April were budgeted to be $35,200, $27,000 and $39,000 Purchases during February, March and April were budgeted to be $118,000,993,000 and $157,000. The company pays income tax installments of $3,500 each month. A capital expenditure of $33,880 for a company van was budgeted to incur in March. Assuming the beginning balance of cash as at February 1 is $32,000 and the company wishes to maintain a cash balance of $30,000, prepare a cash budget for February, March and April. Fashionex Ltd has a line of credit available. Issuances and repayments of loans are made at the end of the month, and an interest payment of $127 is paid at the end of March December and January sales were $ 235,000 and $186,000, respectively. January purchases were $164,000 Required: Prepare a combined cash budget for February, March and April (11 marks). Paragraph BIDEA U $ x x = = = A TT - HAID Required: Prepare a combined cash budget for February, March and April (11 marks). Font family Font size Fashionex Ltd. Combined Cash Budget 09.OOU TUI company van was budgeted to incur in March. Assuming the beginning balance of cash as at February Tis $32,000 and the company wishes to maintain a cash balance of $30,000, prepare a cash budget for February, March and April. Fashionex Ltd. has a line of credit available. Issuances and repayments of loans are made at the end of the month, and an interest payment of $127 is paid at the end of March December and January sales were $ 235,000 and $186,000, respectively. January purchases were $164,000. Required: Prepare a combined cash budget for February, March and April (11 marks). Paragraph Font size B IDEE E A U S X2 X E 33 1 A SA Font family & H C 7% l Required: Prepare a combined cash budget for February, March and April (11 marks). Fashionex Ltd. Combined Cash Budget For the Three Months ended April 30, 20XX