PLEASE ANSWER FAST AND PROPERLY Nikey Wholesaler sells various sports attire at Pavilion Kuala Lumpur. The companys financial controller, Mr Fattah has requested you to prepare a cash budget for the month of July 2020. Mr Fattah provided the following information for you:

1. The cash balance at July 1 2020 was estimated to be RM50,000.
2. Actual sales of May and June and budgeted sales for July are as follows:

	May (RM)	June (RM)	July (RM)
Cash sales	66,000	62,000	70,000
Credit sales	120,000	160,000	200,000
Total sales	186,000	222,000	270,000

3. Credit sales are collected over a two-month period. With 80% being collected in the first month after the sales incurred and the balances being collected in the second month after the sales incurred.
4. Inventory purchased are expected to be RM120,000 in July. The company pays for inventory purchases in the month following purchase. The balance of Junes purchases is RM 130,000.
5. Selling and administrative expenses are budgeted to be RM18,000 for July. Of that amount, 30% is depreciation.
6. Motor vehicle costing RM50,000 will be purchased in July by cash.
7. A new machinery costing RM 80,000 was purchased and installed in June. 30% of the cost is payable during installation and the balance will be paid in two equal installments starting July onwards.

Required:

(a) Prepare cash budget for the month of July 2020

(17 marks)