QUESTION FIVE [20] The following informaton pertains to LMN Traders for three months ended 31 May 2018. Budgeted March May Sales (20% for cash and 80% on credit) 360 000 380 000 400 000 cash 90% on credit) s and wages expenses 2 000 2 000 2 000 REGENT BUSINESS SCHOOL (RBS) January 2019 POSTGRADUATE DIPLOMA IN PROJECT MANAGEMENT ACADEMIC AND ASSESSMENT CALENDAR Additonal Information: 1) It is expected that debtors will settle their accounts as follows: 20%inthe month of sale 70 % in the month after the month of sale, and 5% in the second month after the month of sale 2) The remaining 5% is usually written off as bad debts. 3) Trade creditors are paid in the month after the purchases at a discount of 5%. 4) 50% of the salaries and wages are weekly wages. Because wages are paid weekly. usually 10% ofthe wages are paid in the month following the month in which they were incurred. 5) Expenses are paid as they arise. 8) The favourable bank balance on 1 April 2018 was R 21 000. Required: Prepare the Cash Budget of LMN Traders for April and May 2018. Show all workings