Mr Mendini has identified a gap in the market for providing recording devices. He has done a market survey, and has found the sales potential to be promising. He has R200 000 to invest in a business, but he is concerned that he may need more cash, in which case he will have to apply for a bank overdraft. He has asked you to assist him with the preparation of a cash budget for the first two months of trading. He has provided you with the following expected figures: March April Sales 220 000 245 000 Purchases 115 000 123 000 35 000 35 000 Fixed expenses Bad debts 2 200 2 450 Additional information 1. All sales are on credit, and cash is expected to be collected as follows: 50% in the same month of sales 40% first month after the month of sale 10% two months after the month of sale 2. Purchases are paid for in the month the expenses are incurred. 3. Fixed expenses include rent, wages and water and electricity. 4. Jason wishes to withdraw R13 500 per month from the business for his personal use. 5. Advertising will cost R8 500 in the first month, and thereafter be 5% of sales, payable in the month the expense is incurred. Commission of 2% on sales is paid in the month in which it is incurred. Commission is only paid where sales exceed R225 000. 6. 7. Mr Mendini will deposit his capital contribution into the business's bank account when the business commences trading in March. 8. He plans to purchase special equipment costing R95 000 in April. REQUIRED: Draft a cash budget in columnar format for March and April 2019. [20]