Electrical Depot Ltd. has presented the following projections expenses: Projections for income and Jul 18 Aug 18 Sep 18 $ Cash sales Credit sales Utilities Depreciation Wages Advertising Other Expenses Sale of fixed assets Jun 18 $ 75,000 186,000 16,000 10,000 60,000 10,000 17,000 0 0 80.000 65,000 134,000 15,000 10,000 65,000 20,000 23,000 85,000 220,000 10,000 10,000 70,000 30,000 31,000 280,000 0 85,000 180,000 282,000 25,000 10.000 80,000 40.000 41,000 Taxation paid Credit purchases 150,000 90,000 70,000 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. iii) 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