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hello,can you please do it in accounting format.Thank you The directors of Mauricio Ltd were concerned about the company's cash flow. They requested their accountant

hello,can you please do it in accounting format.Thank you image text in transcribed
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The directors of Mauricio Ltd were concerned about the company's cash flow. They requested their accountant to prepare a cash budget for the four months ending 30 April 2019. (0) The following sales figures are for the months of November 2018 to June 2019. The figures from January 2019 onward are estimated: Actual Sales $ November 2018 60,000 December 2018 64,000 $ Forecast Sales January 2019 65,000 I February 2019 70,000 March 2019 72,500 April 2019 76,250 May 2019 80,000 June 2019 78,750 Half the sales are normally paid for in the month in which they occur and the customers are rewarded with a 5% cash discount. The remaining sales are paid for net in the month following the sale. (ii) Goods are sold at a mark-up of 25% on the goods purchased one month before sale. Half of the purchases are paid for in the month of purchase and a 4% prompt settlement discount is received. The remainder is paid in full in the following month (III) Wages of $12,000 per month are paid in the month in which they are earned. It is expected that the wages will be increased by 10% from 1 March 2019. Half the sales are normally paid for in the month in which they occur and the customers are rewarded with a 5% cash discount. The remaining sales are paid for net in the month following the sale. (ii) Goods are sold at a mark-up of 25% on the goods purchased one month before sale. Half of the purchases are paid for in the month of purchase and a 4% prompt settlement discount is received. The remainder is paid in full in the following month. (iii) Wages of $12,000 per month are paid in the month in which they are earned. It is expected that the wages will be increased by 10% from 1 March 2019. Page 5 of 8 (iv) Rent will cost $60,000 per annum payable three monthly in advance in January, April, July and December each year. (v) The directors have arranged a bank loan of $60,000 which would be credited to company's current account in February 2019. (vi) The half-yearly interest on 200000, 8% debentures of $1 each is due to be paid on 12 January 2019 (vii) The ordinary dividend of $12,000 for the year 2018 will be paid in March 2019 (viii) The bank balance at 31 December 2018 is $12,000 Required: Prepare a cash budget for the four months ended 30 April 2019. Give your answers to the nearest dollar ($). (25 Marks)

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