Prepare a cash budget for 3 months ending December 2020 OMR Month Sales Materials Labor Overheads 10,000 3,000 3,100 14,000 August September 16,000 October 18,000 10,600 3,200 10,400 3,400 3,230 3,450 20,000 11,2003,600 3,600 November December 22,000 11,600 3,800 3,750 Notes: 1. Sales 20% on cash 2. 50% of credit sales is received in the same month and remaining 50% in the next month 3. Materials 1 months credit 4. Wages and Overheads 1/2 month. It means 50% paid in the same month and 50% in the next month 5. Cash and bank balance on 1st October 2020 is OMR 9,500 6. Income tax paid in December 2020 OMR 3,500 7. Sale of old car OMR 20,000 received in November 2020 Answer below questions