M Limited has an authorised share capital of R1 500 000 divided into 1 500 000 ordinary shares of R1 each. The issued share capital at 31 March 2017 was R500 000 which was fully paid, and had been issued at par. On 1 April 2017, the directors, in accordance with the company's Articles, decided to increase the share capital of the company by offering a further 500 000 ordinary shares of R1 each at a price of R1.60 per share, payable as follows

 

2.2 Prepare a cash budget for each of the four months ending 31 July 2010. (30)