REQUIREMENT: Prepare the cash budget for the Month of APRIL, MAY AND JUNE

From the following data forecast the cash position at the end of April, May and June 2021 SALES MONTH SALES PURCHASES WAGES EXPENSES FEBRUARY 110,000.00 80,000.00 9.500.00 3,000.00 MARCH 120,000.00 100.000 DO 12.000.00 2,800.00 APRIL 70,000.00 120.000.00 8.060 00 2,200.00 MAY 130.000.00 105.000.00 11.500.00 3,200.00 JUNE 100.000.00 80,000.00 9.500.00 2,500.00 Additional Information: 1. Sales at 10% realized in the month of sales, balance equally realized in two subsequent months 2. Purchases: Creditors are paid in the month following the month of supply 3. Wages 20% paid arrears in the following month 4. Sales expenses paid in next month 5. Income tax 20,000 payable in June 6. Dividend 10,000 payable in June 7. Income from investments 5,000 received half yearly in March and September B. Cash balance on hand beginning is 60,000