QUESTION 4 Megah Corporation's projected sales for the first eight months of 2023 are as follows: RM January 90,000 May 300,000 February 120,000 June 270,000 March 135,000 225,000 240,000 August 150,000 RM July April of Megah's sales, 10 percent are for cash, another 60 percent are collected in the month following the sale, and 30 percent are collected in the second month following the sale. November and December sales for 2023 were RM220,000 and RM175,000, respectively. Megah's raw materials cost 60 percent of its product's final sales price and are purchased two months in advance of sale. The supplier is paid one month after it makes delivery, Megah pays RM10,000 per month for rent and RM20,000 per month for other expenditures. Tax prepayments of RM22,500 is made each quarter, beginning in March. The company's cash balance in December 2023 was RM22,000; a minimum balance of RM15,000 must be maintained at all times. Assume that any short-term financing needed to maintain the cash balance is paid off in the month following the month of financing if sufficient fund is available. Interest on short-term loans (12 percent) is paid monthly. Borrowing to meet estimated monthly cash needs take place at the beginning of the month. Thus, if the firm expects to need an additional RM60,500 in April, these funds will be borrowed at the beginning of April , and the interest of RM605 owed for April will be paid at the beginning of May. Required: Prepare a cash budget for Megah Corporation covering the first four months of 2021. (12 Marks)