Morecash Plc. are preparing their budgets for the coming year. The following information has been provided (a) The opening cash balance will be 30,000 (b) All sales are on credit. (c) Wages are paid in the same month they are incurred (d) Debtors are expected to pay 60% in the month following sale and the balance one month later. (e) Included in overhead is 1,000 per month for depreciation (f) The company policy is to pay for materials three months after receipt (g) Overheads are paid two months after they are incurred. (h) Sales force are paid a 5% commission on sales one month after sale. This is not included in overheads. ) A new computer will be purchased in July at a cost of 20,000 and paid for in September. G) Tax will be paid in August of 15,000. (k) The company has a leasing agreement whereby e3,000 is payable each month. () In August the company will sell the old computer for 5,000 cash. Wages Material Month Overhead e000 Sales e000 15 20 30 25 35 30 25 25 April May June July August September 4 15 13 18 15 13 12 15 12 10 You are required to prepare a cash budget for each of the three months July, August and September (i) (20 marks) (i) Mention any relevant matters arising from the budget. (5 marks) (Total 25 marks)