One Segamat Corporation is in the process of estimating its cash requirement for its project in Sabah. The firm's actual and forecasted sales are as follows: a) b) c) d) e) f) g) h) 2 Month February March April May June July August Total Sales 400,000 550,000 200,000 260,000 300,000 320,000 360,000 Credit Sales 300,000 400,000 150,000 220,000 240,000 270,000 300,000 35 percent of credit sales are collected one month after sales and the remaining balance is collected in the following month. Raw material equals 70 percent of total sales and they are purchased on credit two months before the anticipated sales. The supplier is paid 60 percent in the month following purchase, 30 percent will be paid two months after purchase and the balance of 10percent will be paid in the third month after purchase. Salaries and wages are 10 percent of the current total sales and are paid in the month incurred. Other monthly fixed expenses are rent RM1,200, insurance RM1,800 and depreciation RM2,000. x cash bu A new machine costing RM350,000 will be installed and paid in June. Dividends of RM14,000 will be received in the middle of each quarter. The ending cash balance in March 31, 2014 is RM40,000 and, the monthly minimum cash requirement is RM15,000. From the information provided, prepare a cash budget for One Segamat Corporation for the second quarter.