Prepare a Cash Budget for the period of six months July-December (25 Marks). Month May June July August September October November December Sales Raw materials 75,000 37,500 75,000 3750 37,500 150,000 51.-27500 52,500 225,000 801 367,500 300,000 127,500 150,000 150,000 97,500 67,500 137,500 2. Debtors Collection estimates are as follows: 5% within the month of sale. 80% during the month following the sale. 15% during the second month following the sale 3. Payment of raw materials is made in the next month following the purchase. 4. Salary $11,250, Lease payment $3750, and Miscellaneous Expense $1,150 are paid each month. 5. Monthly depreciation $15,000 6. Income tax $26,250 paid in September and December. 7. Research payment in October is $75,000 8. Opening Balance on July 1st is $55,000 5 June 95% of July 30 of Any ust 2 of sepet