The financial accountant of Zippi requires your help in preparing a cash budget for the quarter ending 30 September 2019.

During discussions with him you established the following:

1. 30% of all sales are cash. The credit terms of the company allows for a discount of 7.5% if the customer settles their account within 15 days while the normal credit term is 30 days. Experience has shown that 35% of all customers pay within the 15 day period to take advantage of the discount, 60% pay within the 30 day period and the remainder in the following month while the rest is uncollectible.

2. Half the purchases are paid cash while the other half are paid in the month following the purchase.

3. Other expenses are paid in the month it accrued.

4. The company intends paying an interim dividend of R45 000 at the end of September 2019.

5. At the end of August 2019 the final payment for equipment will be settled, amounting to R26 000.

6. The bank balance at the end of June 2020 was R26 000. The company has overdraft facilities with the bank for times when it may be needed.

Extracts from the annual budget revealed the following:

	May	June	July	August	September
R	R	R	R	R
Sales	350 000	330 000	280 000	300 000	310 000
Purchases	210 000	214 500	154 000	180 000	170 500
Gross profit	140 000	115 500	126 000	120 000	139 500
Selling expenses	20 000	21 600	24 800	20 800	24 800
Admin expenses	40 000	43 200	49 600	41 600	49 600
Profit before tax	80 000	50 700	51 600	57 600	65 100

REQUIRED

Prepare a cash budget per month for the quarter ending 30 September 2019.