Purchases WagesSales expenses Month Sales( OR) (OR) (OR) (OR) February 120000 March 130000 April 70000 May 116000 June 85000 80000 98000 100000 103000 80000 10000 12000 8000 10000 7000 9000 5000 10000 6000 8000 Furthur informati 1) 10% of sales on cash,50 % of credit sales in the next mont and the balance in the month following 2) Creditors are allowed one month credit period 3) Wages : 20% paid in the following month 4) Sales expenses are in same month 5) Income tax OR 20000 payable in June 6) Dividend payable in June is OR 12,000 7) Cash balance on hand as on april OR 40000