Prepare monthly cash forecast for the company XYZ Ltd. For the quarter ending 31st March, from the following details:

i) Opening Balance as on 1st Jan is Rs 22,000

ii) Estimated sale for Jan & Feb is Rs 1,00,000 each & for March is Rs 1,20,000.

iii) Cash & credit sales are 20% & 80% respectively.

iv) An anticipated receipt is Rs 5,000 from the sale of machine in March. The forecast of payment is as follows:

a) Materials worth Rs. 40,000 purchased in Jan & Feb and Rs 48,000 in March.

b) The payments for these purchases are made approx a month after the purchase. The purchases for Dec of the previous year have been Rs 40000 for which payment will be made in Jan.

c) Misc cash purchase of Rs 2,000 per month.

d) The wages payments are expected to be Rs. 15,000 per month.

e) Manufacturing expenses are expected to be Rs. 20,000 per month.

f) General selling expenses are expected to be Rs. 10,000 per month.

g) A machine worth Rs.50,000 is proposed to be purchased on cash in March.