E9.27 LO9.7 Cash budgeting: veterinary clinic Happy Pets is a veterinary clinic operating in Auckland. Recently John Tilley, the manager of the cliniches been concerned about cash flow shortages that arose quite unexpectedly in the last three months of the past year. The clinic's bank account went inte overdraft and incurred interest charges. They believes that the main source of the cash flow difficulties is o inck of attention to outstanding client accounts and the practice of purchasing expensive veterinary supplies in large quantities at regular intervals I They has asked you to help design a spreadsheet to help with planning for client consultations, purchase ol supplies,cash shortages and cash surpluses for next year. The following data are available: Revenues as follows: November Descube February S20000 225 000 75 000 225000 200 000 (actual) (actual (budget (budget (budget Duning the past year, 50 per cent of consultation revenue was collected in the month of the veterinary visit 20 per cent in the following month, 20 per cent in the second month, and 10 per cent was not received in the budget year, new credit policies are expected to result in collections of 60 per cent, 20 per cent, 10 per cent end 10 per cant respectively. The cost of veterinary supplies was $75 000 in December and is budgeted $125 000 in February Hot of the supplier accounts are paid in the month they are incurred and half in the following month Salaries of $100 000 per month and other couts of $75 000 are paid in the month they are incurred. Required 1. Un bel to create a spreadsheet to complete a cash budget for January to March of the budget you using the format below Cashbudget January