QUESTION 4 A Company expects to have GHC 37500 cash in hand on 1st April, and requires you to prepare an estimate of cash position during the three months. April, May and June the following information is supplied to you: Month Sales Purchases Wages Factory Office Selling GHC GHC Expenses Expenses Expenses GHC GHC GHC GHC Feb March April May June 75000 84000 90000 120000 135000 45000 48000 52500 60000 60000 9000 9750 10500 13500 14250 7500 7500 9000 11250 14000 6000 6000 6000 4500 4500 5250 6570 7000 6000 7000 Other Information: a. Period of credit allowed suppliers 2 months. b. 20% of sales for cash and period of credit allowed to customers for credit is one month. c. Delay in payment of all expenses: 1 month. d. Income tax of GHC 57,500 is due to be paid on June 15th. e. The company is to pay dividend to shareholders and bonus to workers of GHC 15,000 and GHC22,500 respectively in the month of April. f. A plant has been ordered to be received and paid in May. It will cost GHC. 120,000. 15MARKS