Cash Budget question Tropical Battery Limited has presented the following projections for income and expenses: Jun 20 Jul 20 Aug 20 Sep 2020 000 000 000 000 Cash sales 37,500 Credit sales 93,000 Utilities 8,000 Depreciation 5,000 Wages 30,000 Advertising 5,000 Other Expenses 8,500 Sale of fixed assets 0 Taxation paid Credit purchases 40,000 32,500 67,000 7,500 5,000 32,500 10,000 11,500 42,500 110,000 5,000 5,000 35,000 15,000 15,500 140,000 90,000 141,000 12,500 5,000 40,000 20,000 20,500 0 35,000 42,500 150,000 45,000 Notes: 1) Collections from credit customers are normally 60% in the month of sale and 40% in the following month. ii) Purchases are paid for in the month following the month of purchase. ill) Sixty percent (30%) of the advertising expense is paid in the month incurred, and the balance in the following month. iv) Proceeds from the sale of fixed assets are expected to be received a month later. v) All other expenses are paid in the month incurred. vi) The closing cash balance at June 30, 2020 is expected to be $107,500. Required: Prepare a cash budget for the quarter ending Sept 30, 2020. S S Electrical Depot Ltd. has presented the following projections for income and expenses Jun 18 Jul 18 Aug 18 Sep 18 $ Cash sales 75,000 65,000 85,000 180,000 Credit sales 186,000 134,000 220,000 282,000 Utilities 16,000 15,000 10,000 25,000 Depreciation 10,000 10,000 10,000 10,000 Wages 60,000 65,000 70,000 80,000 Advertising 10,000 20,000 30,000 40,000 Other Expenses 17,000 23,000 31,000 41,000 Sale of fixed assets 0 0 280,000 Taxation paid 150,000 Credit purchases 80,000 70,000 85,000 90,000 0 Notes: 1) Collections from credit customers are normally 70% in the month of sale and 30% in the following month. ii) Purchases are paid for in the month following the month of purchase. in) Thirty percent (40%) of the advertising expense is paid in the month incurred, and the balance in the following month. iv) Proceeds from the sale of fixed assets are expected to be received a month later. v) All other expenses are paid in the month incurred. vi) The closing cash balance at June 30, 2015 is expected to be $205,000. Required: Prepare a cash budget for the June 2018 - Sept 30, 2018. Please use a separate sheet