The controller of" FCCU" Company presented the following data for preparing the cash budget for the first quarter of 2019: 1. Actual and projected sales can be summarized as follows: November 2018, LE 600 000, December 2018, LE 800 000, January 2019, LE 500 000, February 2019, LE 400 000 and March 2019, LE 400 000. 2. Sales are 90% on credit and 10% cash. Credit sales are collected 80% in the month following the sale and 20% in the second month after sale. 3. Payments to suppliers for goods purchased are calculated and summarized as follows: January 2019, LE 420000, February LE 460000 and March LE 237 000. 4. Salaries, wages and commissions averages are 20% of sales. All other variable expenses are 4% of sales. All variable expenses require cash disbursements each month. 5. Other monthly cash operating expenses are as follows: January LE 195000, February and March LE 111000 each. 6. Equipment costing LE 16000 will be purchased and paid for cash in January 2019. Dividends previously declared will be paid in February 2019 LE 39000. 7. At the beginning of December, 2018 an 18%-LE100 000-Loan was actually obtained. The minimum cash balance at the end of each month is LE 25000. Planned cash balance at December 31, 2018 is LE 25000. 8. All borrowings are effective at the beginning of the month and all repayments are made at the end of the month. Management wants to minimize borrowing and repay rapidly. Money can be borrowed and repaid in multiple of 10000 at annual interest rate 18%. Interest is paid only at time of repaying - in full or in part principals of loans. The related interest charges are to be paid regardless of the multiples of LE 10 000. Now, the company is preparing the monthly cash budget for January, February and March, 2019, and for the first quarter of 2019, in total. Required: 1. For January through March, 2019, prepare the collections from sales, and prepare schedule of total cash disbursements and payments. 2. Prepare the monthly cash budget for January through March, 2019 and the total for the quarter.