Classique Household Furnishings & Appliances a family-owned f ire store. You are the management accountant of the concern and have been given the task of preparing the cash budget for the business for the quarter anding September 30, 2018. Your data collection has yeded the following Extracts from the sales and purchases budgets are as follows: Purchases On Account 550.000 $350.000 5720.000 543.400 35200 SAS c in accordance with the o re on 200 An analysis of the records show the are s e according to the following recipe Soin the month of sale 35 in the first month following the sale Accounts payable wrestled as followin g with the creditem-9000 TON in the month in which the inventory is purchased O n the following month Monthly rental is received from a font for storage space unted to him by Cassique Household Furnishings & Appliances. There is $340,000 per annum and is received quarterly in advance Rel ating to the quarter under review become due on July 1 Computer equipment, which is estimated to cost $350,000, will be acquired for cash in August The manager has made arrangements with the seller to make a cash deposit of of the amount upon signing of the agreement in August with the balance to be settled in four equal monthly instaments, starting in September 2018 ) An investment instrument purchased by the company with a face of 5480,000 wil mature on July 20, 2018 and will be liquidated on that date the same time. quarterly interest computed at a rate of 8% per a will be collected. vii) ed operating egenses which are evenly throughout the yew, we estimated to be $1.990.000 per annum including depreciation on non-cumonasses of $42.000 per month and are settled month Vill) Wages and salaries are expected to be 12,304,000 per mand will be paid monthly Omer operating expenses are expected to be $144,000 per quarter and are settled monthly B) *) in the month of August. furniture & fixtures, which cost $455.000, will be sold to an employee at a oss of $20,000. Accumulated depreciation on the furniture & fatures at that time is expected to be 3305 000. The employee will be allowed to pay a deposit equal to 60% of the seling price in August with the balance settled in two equal amounts in September October Continued swift to r u g to fall world. Som Question 2 Continued As part o ngemann of Hood Fu & Alone is the process of completing a c tion to the business property which is estimated to $1.200.000, and which is being funded by external borowing $60,000 of the price long with of $18.000 due to be paid on July 15, 2018 The chance on Sept 2018 is expected to be overdraft of $264 000