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help me solve this question Halal Trading is in the business of trading electrical goods. The following sales are expected over the 6-month period from
help me solve this question
Halal Trading is in the business of trading electrical goods. The following sales are expected over the 6-month period from November 2013 to April 2014. Wages of RM1,000 are paid in the month that they are incurred. Overhead expenses of RM800 are due each month and these are paid one month in arrears. On 1 March 2014, a second-hand van is purchased for RM8,000. The old van is sold on 15 April 2014 for RM1,500. Sales are all on credit and the company's policy is to allow a 2-month credit period. Half of the purchases are on credit and the length of credit period allowed is a month. The other half of the purchases are for immediate settlement. The balance at the bank as at 31 December 2013 was RM1,000 (overdrawn). Required: Produce a cash budget for the 4-month period ending 30 April 2014 Step by Step Solution
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