Q5. Prepare monthly cash budget for six months beginning from April 2019 on the basis of the following information. i) Estimated monthly sales are as follows: Month Month Jan 100000 June 80000 Feb 120000 July 100000 March 140000 August 80000 April 80000 September 60000 May 60000 October 100000 ii) of the sales 80% is on the credit and 20% for cash. 75% of the credit sales are collected within one month and the balance in two months. There are no bad debt losses. iii) Purchase amount to 80% of sales and are made and paid for in the month preceding the sales. iv) The firm has 10% debentures of 1,20,000. Interest on these has to be paid quarterly in January, April and so on. v) The firm is to make an advance payment of tax of 35,000 in July 2019 vi) The firm had a cash balance of 20,000 on 19 April 2019, which is the minimum desired level of cash balance. Any cash surplus/deficit above/below this level is made up by temporary investments/liquidation of temporary investments or temporary borrowings at the end of each month (Interest on these to be ignored)