Question 1* 1. Given below, the sales and projected sales of Dolnat Construction for 2020. Month RM Month RM January 380,000 May 650,000 February 460.000 June 650,000 March 540,000 July 390,000 April 620,000 i. ii. iii. The company collected 40 percent of its sales in the month of sales and balance are collected equally in the two months after sales. Purchase of material are 60 percent of sales and are made one month before sales. However, the payment of purchases will be made in the month of sales. Fixed monthly expenses are: Rent RM40,000 Utilities RM42,000 Salaries RM60,000 Ending cash balance at March was RM80,000. Minimum cash balance of RM35,000 must be maintained at all time and if the company have short term borrowing, the interest rate is 12 percent per annum. Prepare a cash budget for the month of April, May and June (26 marks) iv. V. 1 Add File