Prepare a cash budget that covers the month of Jan to Dec 2021 inclusive.

is an Englishman and has been living in Australia for the last one year while operating his Zbusiness. His main objective at the end of year was to purchase a car for his daughter. The total cost of the car is $34,000 (car, registration and stamp duty) and payment is required on 15 December. has a cash balance of $300,000 and has itemised his expected receipts and payments as follows: Transaction Details $ 1 January Cash Balance $300,000 10 January Pay house deposit $220,000 10 January Pay for house stamp duty $40,000 31 January Pay annual council rates to Banyale council. $1,200 1 February for imself (Including $20,000 Purchase second-hand CR insurance, stamp duty and registration) Monthly Pay monthly interest and principal repayment of the house. $2,500 Monthly Full-time job at 15th day of the month. -transfer to his bank account on the $5,000 Monthly Petrol for motor car $80 Monthly Grocery and Takeout (it was doubled during Easter and Halloween $800 holiday) Monthly Streaming subscription and Entertainment (Extra 50% during $2000 February and March) 1 July Pay return flight to England to watch Manchester United FC at Old $2,000 Trafford 15 July Pay for Mum's birthday present $1,000 10 August $2,000 Involve in car accident and pay other drivers for damage Contribute capital to his cupcake business 10 October $25,000 15 December Purchase car for her daughter $34,000 Task 1 Prepare a cash budget that covers the months January to December 2021 inclusive. (25 marks) Task 2 Given Clive's estimates are reasonable, will he be able to purchase in December 2021? What Clive other financial strategies that Clive can apply if he does not have enough money to purchase car for his daughter