QUEST Muscat Electronics Company is in the business of buying and selling of different types of electronical products in different region of Oman and provided the following data to understand the cash position every month start from January to July, 2021 The sales book reported the sales amount for seven tots as below:- Descary bran Mark Musume Jay The sales reported every month including cash sales and credit sales. Cash sales constitute 40% of total sales collected in the month of sales and the balance is credit ales received in the month following the month of actual sales The detail of goods purchased in cash during seven months reported in purchase book as below: Svarur, Stureb priesto, July 4000 350.200... Company also purchased goods on credit from different suppliers. The detail of credit purchase from the month January to July is given below:- Senary rarytar Apr May June Maty 12.000 1.200.00 Cash purchases payable in the month of purchases and credit purchases are payable to supplier in two months following the month of credit purchase. It is also found from the accounting records that the company purchased plant and equipment for RO 9.000 in the month of March and it is payable in three equal instalments starting from April. Tax department has sent a notice to the company to pay taxes of RO 2.000 each in the month of May and June The wages and office expenses are paid in the month following the month in which wages and office expenses incurred. The detail of wages and office expenses is given below: Danmar Phran Marco Me We 2000 2250 220 The selling expenses of the company recorded for the seven months are as follows The company also incurred administrative expenses for the period January to July. The detail of administrative expenses is given as below 200 The company is paying the selling and administration expenses in one months following the month in which soch expenses incurred The cash balance as on 1 January is RO 15,500 Requirement: The Company has requested you to prepare Cash budget for the period of six month (January to June). 15 Marks QUEST Muscat Electronics Company is in the business of buying and selling of different types of electronical products in different region of Oman and provided the following data to understand the cash position every month start from January to July, 2021 The sales book reported the sales amount for seven tots as below:- Descary bran Mark Musume Jay The sales reported every month including cash sales and credit sales. Cash sales constitute 40% of total sales collected in the month of sales and the balance is credit ales received in the month following the month of actual sales The detail of goods purchased in cash during seven months reported in purchase book as below: Svarur, Stureb priesto, July 4000 350.200... Company also purchased goods on credit from different suppliers. The detail of credit purchase from the month January to July is given below:- Senary rarytar Apr May June Maty 12.000 1.200.00 Cash purchases payable in the month of purchases and credit purchases are payable to supplier in two months following the month of credit purchase. It is also found from the accounting records that the company purchased plant and equipment for RO 9.000 in the month of March and it is payable in three equal instalments starting from April. Tax department has sent a notice to the company to pay taxes of RO 2.000 each in the month of May and June The wages and office expenses are paid in the month following the month in which wages and office expenses incurred. The detail of wages and office expenses is given below: Danmar Phran Marco Me We 2000 2250 220 The selling expenses of the company recorded for the seven months are as follows The company also incurred administrative expenses for the period January to July. The detail of administrative expenses is given as below 200 The company is paying the selling and administration expenses in one months following the month in which soch expenses incurred The cash balance as on 1 January is RO 15,500 Requirement: The Company has requested you to prepare Cash budget for the period of six month (January to June). 15 Marks