Provide solution to Q1 attached and show how cash and bank balance are attained for April, May and June

CASH BUDGET Q1) Prepare a cash budget of a company for April, May and June 2001 in a columnar form using the following information: Months Sales Purchases Wages Expenses 2001 Rs. Rs. Rs. Rs. Jan (actual) 80,000 45,000 20,000 5.000 Feb (actual) 80.000 40,000 18.000 6.000 March (actual) 75.000 42,000 22,000 6.000 April (Budgeted) 90.000 50,000 24,000 7.000 May (Budgeted) 85,000 45,000 20,000 6.000 June (Budgeted) 80.000 35,000 18,000 5.000 You are further informed that: a) 10% of the purchases and 20% of the sales are for cash. b) The average collection period of the company is 1/2 month and the credit purchases are paid off regularly after one month. c) Wages are paid half monthly and the rent of Rs 500 included in expenses is paid monthly. d) Cash and bank balances as on April 1 was Rs 15,000 and the company wants to keep it on the end of every month below this figure the excess cash being put in fixed deposits in multiples of 1000