Qaisara Qayser Enterprises, a small grocery shop business has provided the following estimates relating the third quarter of 2020, 30th September 2020.

REQUIRED:

Prepare a cash budget for the quarter ending 30th September 2020.

Cash sales $121365

Credit sales 173590

receipts from accounts receivable 142755

Cash payments:

wages expense 95040

motor vehicle 22170

electricity and internet expense 5840

administrative expenses 24816

Depreciation on motor vehicle 735

receipts of loan-equipment 23250

cash purchases 14750

credit purchases 115456

payments to accounts payable 99684

The cash balance as at 1st July 2020 is $32600