The budget committee has agreed the following budgets for the 3 months ending 30 September 20Xl Cost Centre Operating Budget Expenses: Additional Information: (a) 50% of revenue is cash. The remaining 50% is collected in the month following the sale. (b) All F\&B purchases are credit purchases. The supplier is paid in the month following purchase. 4 (c) Payroll and related expenses and other expenses are paid in the month they are incurred (d) Undistributed operating expenses are paid in the month incurred except heat \& power which is paid one month in arrears. (e) Local taxes \& insurance are paid annually in advance on 1st July. (f) Loan interest is paid quarterly in arrears on 30 September. (g) The acquisition and payment of new equipment is planned for August. Cost and installation is estimated at 185,000. (h) F \& B closing inventory levels on 30th September are expected are expected to remain unchanged from the previous period. Recmired. (1) For Horizon Hotel preparea Budgeted Cash Budget; Budgeted Income Statement \&; Budgeted Balance Sheet for the 3 months ending 30 September 20X. (2) Carefully analyse the implications of the above budgets. (3) Advise as to the advantages and disadvantages of an incremental budget approach. Do alternatives exist? If so, advise as to their major advantages and disadvantages. The maximum word count for this task is 600 words