The following data relates to Balaji Bookshop Limited:

MonthSales (Rs.)Purchases (Rs.)

Feb4,00,0002,40,000

Mar4,50,0002,70,000

April5,50,0003,20,000

May6,00,0003,60,000

June5,00,0003,00,000

Other Data:

(i) The Cash Balance on 1st April is expected to be Rs.75,000.

(ii) 25% sales are on cash basis. Credit sales are collected in the month following the sales.

(iii) A commission of 5% is payable to sales agents in the month following the sale.

(iv) Trade creditors allow two months credit.

(v) Fixed costs are Rs.1,00,000 per month including Rs.20,000 depreciation.

(vi) Tax due in April Rs.1,50,000.

(vii) Dividend of Rs.50,000 is payable in May.

(viii) An instalment of Rs.1,00,000 is payable in June towards purchase of equipment.

You are required to prepare Cash Budget for the month of April, May and June, 2020