Question 4 Joan Kennedy has been running a business for a number of years. She provides the following information on 1/6/2019 and asks you to predict what overdraft facilities she will require over the next 5 months. Trade receivables on 1/6/2019 116,000 (Made up of April sales 62,000 And May sales 54,000) Trade payables on 1/6/2019 Bank overdraft on 1/6/2019 46,000 18,000 She expects her sales, purchases and expenses for the next five months to be: June July Aug Sept Oct Sales 55,000 75,000 94,000 88,000 90,000 Purchases 42,000 52,000 64,000 55,000 60,000 Expenses 12,000 9,000 11,000 13,000 14,000 Expenses are paid as they are incurred. All sales are on credit and are paid for two months after the month of sale. All purchases are on credit and are paid for one month after the month of purchase. (a) Prepare a cash budget showing Joan's budgeted bank figure on a monthly basis for the period June to October inclusive. (90 marks) (b) Indicate what information Joan can get from the prepared cash budget. (10 marks) (Total 100 marks)