Muneer Trading Company is dealing in different kinds of buying and selling of goods in Barka region and provided the following data to understand the cash position every month start from January to July. The sales book reported the sales amount for seven months as below: January February March April May June July 290.500 289500101000258.500 39.600260,50368.500 The sales reported every month including cash sales and credit sales. Cash sales constitute 30% of total sales collected in the month of sales and the balance is credit sales received in the month following the month of sales. The detail of goods purchased in cash during seven months reported in purchase book as below:- January February March April May June July 38.500 39 500 40.500.5047.00 1,500 Company also purchased goods on credit from ent suppliers. The detail of credit purchase from the month January to July is given below:- January February March April May June July 125.00 13.90 4690046.919.20122.01. Cash purchases payable in the month of purchases and credit purchases are payable to supplier in two months following the month of credit purchase It is also found from the accounting records that the company has purchased a plant for RO 18,000 in April and it is payable in two equal instalments starting from May. Tax department has sent a notice to the company to pay taxes of RO 6,500 each in the month of April and May. The wages and office expenses are paid in the month following the month in which wages and office expenses incurred. The detail of wages and office expenses is given below:- January February March April May June July Wapes 2200 2.150 2,642,3902.402.260 Defice pe 0.300 6,150 6.250 6,166, 160 250 5,120 The selling expenses of the company recorded for the seven months are as follows: January February March April May June July 4.250 4650 4.4504,684.290.7804,500 The company also incurred administrative expenses for the period January to July. The detail of administrative expenses is given as below: January February March April May June July 3,600 3,650 3.750 3.60 3,590 3.9904,020 The company is paying the selling and administration expenses two months following the month in which such expenses incurred The cash balance as on 19 April is RO 45,800 Requirement: The Company has requested you to prepare Cash budget for the period of April to June. Case Study 4 Muneer Trading Company is dealing in different kinds of buying and selling of goods in Barka region and provided the following data to understand the cash position every month start from January to July. The sales book reported the sales amount for seven months as below:- January February March April May June July 290.50 219.500301,0002.0032.pso.soepss.se The sales reported every month including cash sales and credit sales. Cash sales constitute 30% of total sales collected in the month of sales and the balance is credit sales received in the month following the month of sales. The detail of goods purchased in cash during seven months reported in purchase book as below: January February March April May June July 38.500 10.00 40.500.500,0047.800.00 Company also purchased goods on credit from different suppliers. The detail of credit purchase from the month January to July is given below: January February March April May June July 125.800 135.00 146,900 146.90 182.52.149, Cash purchases payable in the month of purchases and credit purchases are payable to supplier in two months following the month of credit purchase. It is also found from the accounting records that the company has purchased a plant for RO 18,000 in April and it is payable in two equal instalments starting from May. Tax department has sent a notice to the company to pay taxes of RO 6,500 each in the month of April and May. The wages and office expenses are paid in the month following the month in which wages and office expenses incurred. The detail of wages and office expenses is given below:- January February March April May June July 2.250 2.200 2.15 2.450.350.40 Office 6.300 IS.250.100.1023 The selling expenses of the company recorded for the seven months are as follows:- January February March April May June Juh 4.250 4650 4.450 4.60 4.20 4.750 4.500 The company also incurred administrative expenses for the period January to July. The detail of administrative expenses is given as below: January February March April May June July 3,600 3.60 2.750.000.000 The company is paying the selling and administration expenses in two months following the month in which such expenses incurred. The cash balance as on 15 April is RO 45.800. Requirement: The Company has requested you to prepare Cash budget for the period of April to June [10 Marks