Question 1 8 points ABD Corporation manufactures and sells cricket bats. The company usually relies on debt financing in the form of bank loans during the second quarter to support peak sales that are instigated (every year) due to the commencement of IPL. The following information has been assembled to assist you in in preparing a cash budget for the quarter ending on 30 June 2022. Particulars April May June July Expected Cash Collection 263,600 210,100 275,300 310,000 Expected Cash Disbursement 59,800 181,000 248,400 215,200 Selling Expenses 17,000 10,000 15.000 16,500 Administrative Expenses* 6,800 10,200 7,400 8,300 *Includes $1800 of depreciation each month Notes: Expected cash collection and cash disbursement are associated with sales revenue and purchase of inventory, respectively. A land will be purchased for cash in the month of April that will cost $200,000. Dividends of $15,000 will be declared and paid in the month of May. The cash balance on 31 March 2022 is expected to be $30,000; the company must maintain a minimum cash balance of $50.000 at the end of each month. The company can borrow any amount at the beginning of a month to maintain the requirement of a minimum cash balance. Interest rate on loans is 9.0% per month and for simplicity we will assume that interest is not compounded. Any repayments, alongside interests should be made at the end of a month. Requirement: Prepare the corporation's cash budget for the upcoming 2nd quarter of 2022. [4*2 = 8) Your