Maju Jaya Sdn Bhd has been engaged in the process of forecasting its financing needs over the next quarter and has made the following forecasts of planned cash receipts and disbursements:The monthly sales for the year of 2023: RM RMApril 550,000 August 680,000May 660,000 September 565,000June 700,000 October 620,000July 650,000 November 650,000a) The firm's sales of 60% is collected in the month of sale and the remaining balance will be collected in the next month.b) The raw materials are 50% of the current sales and creditors are paid in the following month.c) The wages and salaries are paid based on 10% of sales in the month. The utilities for the firm is 5% of sales in the month of their incurrence.d) Furthermore, the monthly rent expenses are RM7,000 and RM5,000 tax payments paid monthly.e) A 5% annual interest on a RM500,000 term loan will be paid monthly.f) Beginning cash balance for the budget period is RM70,000 with a minimum cash balance of RM45,000 and an increase to RM90,000 in August and RM135,000 in September.g) Any short term financing needed to maintain the minimum cash balance should be paid off the month after the financing month with an annual interest rate of 15% per annum.Prepare a monthly cash budget for the three-month period ended 30th September. (30 marks)