Question 3 A. ABC Industries is in the Business of manufacturing agro equipment. Prepare the cash budget for the quarter April to June, based upon the following data and additional information. Month Sales Purchases Wages Selling Office Mig. Overheads Overheads Overheads S January 60,000 36,000 9,000 4,000 2,000 4,000 February 62,000 38,000 8,000 5,000 1,500 3,000 March 64,000 33,000 10,000 4,500 2,500 4,500 April 58,000 35,000 8,500 3,500 2,000 3,500 May 56,000 39,000 9,000 4,500 1,000 4,000 June 60,000 34,000 8,000 4,500 1,500 3,000 Additional Information : a) The Cash balance at 1 April is $ 800000. b) Sales: 40% cash sales and 60% is collected in the month following sales. c) Purchases are all on credit and are paid after 2 months. d) A plot of land was purchased in December (Previous year) and $ 87,000 is payable in April. e) Wages are paid two month in arrear and all overheads are settled after a month they are incurred. ABC Industries is due to repay a l a loan of $ 16.000 in May