Merah Berhad projected sales for the first six months of 2022 are given below. January RM500,000 April RM800,000 February RM600,000 May RM900,000 March RM800,000 June RM800,000 30% of sales is collected in the month of the sale, 60% is collected in the month following the sale, and 10% is written off as uncollectible. Cost of goods sold is 40% of sales. Purchases are made on the month prior to the sale and are paid during the month the purchases are made (i.e. goods sold in August are bought and paid for in July). Total other cash expenses are RM30,000 per month. The company's expected sales for December 2021 are RM400.000 and cash balance as of 31 December 2021 is RM40,000 Excess cash will be used to retire short-term borrowing (if any). Merah Berhad has no short- term borrowing as of 31 December 2021. Assume that the interest rate on short-term borrowing is 1% per month and the company must have a minimum cash balance of RM35,000 at the beginning of each month. Round all answers to the nearest RM100. Required: Prepare a Cash Budget for the first quarter of 2022. (15 Marks)