Part B (15 marks)

Khloes Caf has provided the following estimates relating to the first quarter of the financial year beginning 1^st July 2020:

Cash Sales	$236,000
Credit Sales	$524,400
Receipts from Debtors	$329,000
Wages paid	$224,000
Caf Furniture purchased	$79,600
Utilities paid	$29,800
Administration paid	$85,600
Depreciation of furniture	$2,890
Receipt of Loan	$80,000
Credit Purchases	$296,800

The cash balance at 1 July 2020 is expected to be $66,000.

Required

Prepare a cash budget for the quarter ending 30 September 2020.

Khloes Caf

Cash Budget For the quarter ended 30 September 2020