CASH BUDGET Usaha Perdana Sdn Bhd is a manufacturing company that produces and sells products throughout Kelantan, Pahang and Terengganu. The following information is available for the preparation of the company's Cash Budget for the first quarter of the year 2020. November 120,000 December 180,000 January 210,000 February 180,000 March 180,000 25,000 35,000 30,000 35,000 30,000 Budgeted sales (RM) Budgeted purchase of material (RM) Budgeted labour costs (RM) Fixed overhead (RM) 28,000 32,000 24,000 28,000 32,000 10,000 10,000 10,000 10,000 10,000 Additional information: 30% of sales are collected in the month of sales and the remainder are collected in the following month. A 3% cash discount is allowed for the payment which is made in the month of sales. Materials are purchased on credit basis and the company is given two (2) months credit facilities by the supplier. Wages are paid on the 7th day of the following month. Fixed overhead (include RM1,000 depreciation) is settled in the month they are incurred. The company will purchase a special machine valued at RM100,000 in the month of January 2020 and the payment will be settled in the following month. A new furniture costing RM24,000 is to be purchased in December 2019 and payment will be made in three (3) equal instalments starting January 2020. The company plans to invest RM50,000 as a fixed deposit in January 2020. The company will receive interest in the fixed deposit of 15% per annum at the end of each quarter. The closing cash balance for the month of December 2019 shows a deficit balance of RM20,000 Required: Prepare a Cash Budget for the first quarter of year 2020 for Usaha Perdana Sdn Bhd