Tiro provides you with the following information

Project 3 Cash budgets and budgeted financial statements (Chapters 4 and 5) Question 1 P. Ttro provides you with the following figures March actual sales April budgeted sales May budgeted sales June budgeted sales 42 000 39 COC 36 CCC 25 200 Sales are expected to be 70% credit and 30% cash and include GST. Invoices for credit sales are issued at the end of the month. Accounts receivable pay 70% within 30 days of invoice receiving 5% discount. Discount is recognised in the month it is allowed. 20% within 60 days. 5% within 90 days. 5% bad debts. Accounts receivable balances as at 31 March are 547400. The ageing list shows that this balance is dissected as follows: Month of sale 3 000 January February March 14 400 29 400 Purchases (GST inclusive) are paid for in the month in which they are made. Budgeted purchases are: April May 24 000 22 800 12 000 June Marketing expenses (GST inclusive) are budgeted at 10% of sales and are paid in the month they are incurred. Other expenses are expected to be Agrit MEY June 9000 7200 10 800 nnnnnn Other expenses are paid in the same month they are locurred and include GST except for depresiacon, Depreciation is included in other expenses and is $3 000 per month. Equipment will be paid for on 19 June for $30 000 (including GST). GST is accounted for by the cash method. Cash balance at 31 March is S48000. Required Prepare a casti budget for April, May and June showing monthly figures. Question 2