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Question 3 The owner of Omega Sdn Bhd (OSB) company has requested a cash budget for April and May. After examining the records of the company, you find the following: 1. Cash balance on 1 April is RM10,000. 2. Total sales for April and May are as follows: April RM55,000 May RM35,000 60% of the sales are expected to be in cash whilst the other 40% is on credit. The credit sales will be collected one (1) month after sales. 3. Purchases of materials will be made on credit. 50% of the credit purchases will be paid in the month of purchase and another 50% one month after the purchases. Estimated purchases are as follows: March RM25,000 April RM23,000 May RM28,000 4. Salaries and wages is RM15,000 per month. 5. Rent is RM4,500 per month. 6. The company received 3% dividend from unit trust investment of RM200,000 in April. No minimum cash balance is required. Required: Prepare a cash budget for April and May. Include supporting schedules for cash collections and cash payments