The following gures have been extracted from ABC Corpfe budget schedules in 2004: September 1 100 560 Relevant information: o Creditors for materials are paid 40% In the month they are incurred and 50% one month later. . Wages are payable In the month they are incurred. e A dividend of R500 l receivable in June. a Sales are made 20% on each. Of the 50% credit sales. 40% of these debtors pay in the same month that the sale occurred. 30% In the next month and the rest become bad debts. - New equipment, with a purchase price of R10 000 is going to be purchased in July. It must be paid In two equal lnstalmentis from August 0 Of the overheads. 35% ot the figure ls variable and is payable in the month atter it was incurred. The xed portion must be paid In the month you incur the cost. The fixed portion Includes R154 monthly depreciation. Note: This depreciation met must be removed and excluded from the cash budget. as cash budgets do notehow depreciation. e The bank balance at the end of May was R3 000. Required: Prepare the following tables tor July. Augustand September. a] Projeded cash receipts bl Projected cash disbursements c} Cash budget