j56 550 500 650 550 500 3,000 550 500 (Contd.) (C) Surplus/(deficit) (100) (3,600) 2,500 800 (400) Opening balance 650 Closing balance (indicated) 3,050 1,300 250 Borrowings required (deficit minimum cash required) 3,550 3,550 (Repayments) made (balance minimum cash required) (2,500) (800) (3,300) Closing balance (actually now estimated) 500 500 500 (11) Loan outstanding is 735,50,000 - 333,00,000 = 2,50,000 P.17.12 The following data pertain to a shop. The owner has made the following sales forecasts for the first five months of the coming year. January 340,00,000 February 45,00,000 March 55,00,000 April 60,00,000 May 50,00,000 Other data are as follows: 1. Debtors' and creditors' balances at the beginning of the year are 330 lakh and 14 lakh, re- spectively. The balances of other relevant assets and liabilities are: Cash balance, 37.5 lakh; Stock, 351 lakh; Accrued sales commission, 83.5 lakh. 2. 40 per cent sales are on cash basis. Credit sales are collected in the following month. 3. Cost of sales is 60 per cent of sales. 4. The only other variable cost is a 5 per cent commission to sales agents. Sales commission is paid in the month after it is earned, that is, the time-lag is one month. 5. Inventory (stock) is kept equal to sales requirements for the next two months budgeted sales. 6. Trade creditors are paid in the month following purchases. 7. Fixed costs are 35 lakh per month, including 2 lakh depreciation. You are required to prepare a cash budget for each of the first three months of the coming year