please show your workings and also whats the method to improve the montly cash balance? thank you

1. Budgeting and Professional Emails: 21 marks The accountant for The Chemist Shop is preparing the budgets of two products for the second quarter of 2023. This is the information that has been collected to assist with drawing up the budgets: At the beginning of the second quarter of 2023, the business forecasts to sell: The business also forecasts to purchase the following inventery for the second quarter of 2023 : - The business has introduced a policy in quarter two to start selling products on credit. It has budgeted for 80% of sales revenue to come from cash sales. For credit sales, it is expected that 70% will be coliected in the month of sale and 30% in the following month. - All purchases are paid to the supplier in the month following the purchase. The purchases for March 2023 were $9,750. - The business bought insurance cover for the whole year. The insurance expense is $1,500 and is paid in June. - The business also expects to incur the following selling and general expenses for each month of this year, These expenses must be paid in the month that they are incurred. Requiredt (a) Prepare a Sales Budget for the second quarter of 2023. (5 marks) (b) Prepare an Inventory Purchases Budget for the second quarter of 2023 . (3 marks) (c) Prepare an other Expenses Budget for selling and general expenses for the second quarter of 2023. (2 marks) (d) Prepare a Cash ludget for the second quarter of 2023, assuming that at the end of March 2023 the business has a cash balance of $5,000. (4 marks) Paxe 2 afs Assignment 01 Questions DUE DATE: Friday 24 March 2023, 4pm (NZT) Question 1 - continued: (e) The accountant is responsible for providing George watson, the owner, with a quarterly update on the entity's cash position and methods to improve the monthly cash balance