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From the following data forecast the cash position at the end of Jan, FEB and March 2023 Further information 1. Sales at 20% realized in
From the following data forecast the cash position at the end of Jan, FEB and March 2023 Further information 1. Sales at 20% realized in the month of sales. Balance equally realized in two subsequent months. 2. Purchase: Creditors are paid in the month of supply. 3. Wages: 80% paid in the following month. 4. Sales expenses are paid in the month sales. 5. Income tax $30,000 payable in Feb 2023. 6. Dividend $12,000 payable in December 2022. 7. Income from investments $5,000 received half in March and April 2023 8. Cash in balance on 0112023 is $52,600 Required: a. Prepare the Cash budget for the month of January February and March 2023 (show all workings) (35 Marks
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