Prepare a cash budget of three months ending 30^th November 2020 on the basis of the following forecasted income and expenditures. The bank balance on 1^st September was Rs 10,000.

Month	Sales (Rs)	Purchases (Rs)	Wages (Rs)	Factory exp (Rs)	Office exp (Rs)
July	80,000	40,000	5,600	3,900	10,000
August	76,500	42,000	5,800	4,100	12,000
September	78,000	38,500	5,800	4,200	14,000
October	90,000	37,500	5,900	5,100	16,000
November	95,000	43,000	5,900	6,000	13,000

Additional information:

A sales commission of 4% on sales, due in the month following the month in which the sales proceeds are collected, is payable in addition to the office expenses.

Fixed assets worth Rs 65,000 will be purchased in September, to be paid in the following month.

Rs 20,000 in respect of debenture interest will be paid in October.

The period of credit allowed to the customer is two months and one month credit period is obtained from the supplier of the goods

Wages are paid on an average fortnightly, i.e., for the first 15 days, it is paid on 16^th and for the next 15 days it is paid on 1^st of the next month.

Expenses are paid in the month in which they are due.