From the following information, prepare a monthly cash budget for the three months ending $31$st December $2019.$

$(A)=$ Actual; $(E)-$ Estimated

The credit terms are as follows:

Sales $-10\%$ of sales are in cash. On average, $50\%$ of credit sales are paid in the next month, while the other

$50\%$ are paid two months after the sale.

Creditors for material are paid $2$ months after purchase.

Wages and other expenses are paid the same month.

The cash and bank balance on $1$st October is expected to be $$1,500.$

Other information is given as follows:

Plant and machinery are to be installed in August at a cost of $$24,000.$ This sum will be paid in monthly

installments of $$500$ each from $1$ st October.

Dividends from investments amounting to $$250$ are expected to be received on $31$ st December.

Income tax is to be paid in December $$500$