Jana Restaurant Supply sells various equipment and supplies to restaurants in the local and surrounding communities. The companys executive, Mr. Hasan, has requested your help in preparing a cash budget for the month of June. Mr. Hassan accumulated the following information for you. 1. The cash balance at May 1 was estimated to be RM20,000. 2. Actual sales of April and May and budgeted sales for June are as follows: April (RM) May (RM) June (RM) Cash sales 33,000 31,000 35,000 Credit sales 60,000 80,000 100,000 Total sales 93,000 111,000 135,000 3. Credit sales are collected over a two-month period. With 60% being collected in the first month and the remainder being collected in the second month. 4. Inventory purchased are expected to be RM70,000 in June. The company pays for inventory purchased in the month of following purchased. The total purchases for April and May are RM52,000 and RM86,000 respectively. 5. Selling and administrative expenses are budgeted to be RM28,000 every month. Of that amount, 20% is depreciation. 6. Equipment costing RM30,000 will be purchased in June for cash. 7. Dividends in the amount of RM37,000 will be paid in the month of June. 8. The company wants to maintain a minimum cash balance of RM40,000 and has set up a line of credit at the local bank that can be used to cover any shortage. If the company must borrow, the loan will be made at the beginning of the month and any repayment will be made on the following month. Required: a) Prepare Cash Budget for the month of May & June. (You are required to prepare Cash Collections Schedule and Cash Payments Schedule). (15 marks)