From the following forecast of income and expenditure prepare a Cash Budget for the three months ending on May, 20X8
Month	Sales	Purchase	Wages	Misc.
Jan 'X8	2,20,000	1,34,000	30,000	17,000
Feb 'X8	2,30,000	1,50,000	32,000	18,000
Mar 'X8	1,80,000	1,54,000	28,000	16,000
Apr 'X8	2,16,000	1,56,000	30,000	22,000
May 'X8	1,88,000	1,30,000	28,000	16,000
Additional Information: (i) Sales:30% realized in the month of sales, discount allowed 2%, balance realized equally in two subsequent months. (ii) Purchases: These are paid in the month following the month of supply
(iii) Wages: 30% paid in arrears following month (iv) Misc. Expenses: Paid a month in arrears (v) Rent: 2000 per month paid quarterly in advance due, in March (vi) Income Tax: First Instalment of advance tax, 30,000 due on or before 15th May to be paid within the month (vii) Income from Investment: 15,000 received quarterly in March, June etc., (viii) Cash in hand, 25,000 in March 1, 20X8