Intan Bhd. has furnished the following information to prepare its cash budget for the second quarter of year 2023: Month Sales Purchases (units) (RM) Wages and salaries (RM) Overheads (RM) January 5,500 16,000 10,000 5,000 February 5,400 20,000 12,000 5,000 March 5,600 18,000 12,000 5,000 April 4,000 16,000 12,000 4,000 May 4,500 14,000 14,000 4,000 June 3,800 14,000 14,000 4,000 Additional information: 1. Opening cash balance in April 2023 is expected to be RM26,000. The selling price for each unit is RM4. 2. 3. 4. 5. 10% of the total sales are cash sales. 30% of the credit sales will be paid one month after sales and the remaining balance will be paid two months after sales. 25% of purchases will be paid in the month of purchase and the remaining balance will be paid the following month of purchase. Wages and salaries are to be paid 60% in the month incurred and the remaining balance will be paid in the following month. Overheads are to be paid in the month incurred. The depreciation for machinery is RM1,000 per month. Required: a) Prepare the Schedule of Cash Collections from sales for April, May and June. (10 marks) b) Prepare the Cash Budget for April, May and June using the format provided below. Beginning cash balances Add: Cash receipts Cash collection from sales Other cash received Less: Cash payments Cash payment to suppliers (purchases of materials) Payment for other expenses Ending cash balances April May June (15 marks)