QUESTION 2 Xhana Ltd. is a dealer in motor vehicle parts. The information in the table below and the additional information relate to the business. Forecast income and expenditure for June-September Details June July August September Revenue Pula Pula Pula Pula Cash sales 6,400 7,800 6.700 Credit sales 6,700 9,100 4.600 5,700 Expenditure Salaries 2,100 2,100 2.100 2,100 Inventories purchases 5,500 6,100 8,400 7,500 7.300 Additional information 1. The bank balance at the beginning of July was P2,200 ii. Credit sales receipts are 60% in the month of sales and 40% in the following month. iii. Other expenses are paid for in the month in which they are incurred iv. Inventories purchases are paid for 40% in the month of purchase and 60% in the following month v. A staff canteen kitchen equipment is to be purchased in July and paid for in three months with a deposit of P2,000 in July and installments of P4,000 in August and P2,000 in September LI 2 Required: Prepare a cash budget for the company for the months July, August and September. (25 marks)