The Account Executive of CJ Wow Shop has presented the following budgeted information for the eight months of 2017: 2017 Jan Feb Mar Apr May Jun Jul Sales volume (units) 50,000 100,000 30,000 35,000 60,000 80,000 70,000 Aug 50,000 Sep 50,000 Selling price per unit ($) 15 15 10 10 10 10 11 11 11 Salaries ($) 40,000 150,000 45,000 60,000 60,000 60,000 Rental ($) 3,500 3,500 5,000 5,000 Sales Commission ($) 5,000 5% of sales 5,000 60,000 5,000 5,000 60,000 60,000 5,000 Utilities ($) 2,300 2,000 2,500 2,500 2,500 2,500 2,500 2,500 2,500 Additional information is given below: 1. 40% of the total sales is on cash basis. 2. 60% of the total sales is on credit basis and which is paid at the end of next month. 3. Monthly purchases details: January to February - Purchases are 70% of the next month's normal sales value and are paid two months following the month of purchase. From March onward - Purchases are 40% of the next month's normal sales value and are paid two months following the month of purchase. The monthly normal selling price details given as below: Month Before March 2017 From March 2017 onward Normal unit selling price $15/unit $11/unit 4. All expenses are paid at the end of the month except for utilities. Utilities will be paid in the following month end. 5. A 10% down payment of $45,000 will be paid in the month end of March 2017 for acquisition of a new machine. The machine lifespan is 4 years. The machine is depreciated based on straight line method. All brought forward assets are fully depreciated. 6. Additional investment of $20,000 in the business is to be made on 31 March 2017. 7. As at end of February 2017, there is a credit bank balance of $12,500 as shown in the book. 8. The bank overdraft interest charges is 1.5% per month. 9. The business keeps $52,000 opening stocks in March 2017 and $60,000 closing stocks in August 2017. Required: Prepare the Cash Budget for six months from March to 31st August 2017. Note: All figures to be rounded-up to the nearest dollar (no decimal point)