ue.1. Almarai Company wishes to prepare a cash budget for the period July to September 2019. Prepare the cash budget for the above period from the following information. MONTHS SALES (OMR) PURCHASES (OMR WAGES (OMR) June 2019 240,000 180,000 26,000 July 2019 260,000 190,000 27,500 August 2019 200,000 144,000 22,500 September 2019 180,000 150,000 23,000 Other information: 1. 50% of the sales are for cash and 50% for credit. 2. The credit sales are realized in the month following the sale. 3. Creditors are paid in the month following the month of purchase. 4. Plant costing OMR 20,000 is to be purchased in July 2019, 50% of the same is paid in the same month and the remaining 50% in the next month. 5. Dividend OMR 75,000 is payable in September 2019 6. Commission paid OMR 5,000 in September 2019 7. Machinery costing 5,000 was sold in July 2019 and payment was received after 2 months. 8. Car to be sold for OMR 2,000 in August 2019, cash to be received after 2 months. 9. Cash balance on 1st July 2019 is OMR 8,0XX. Note: For Cash balance on 1st July 2019, use the last 2 digits of your ID number in place of XX to arrive at the amount. a. You are required to prepare the cash budget for the company for the period July to September 2019. b. What is the expected amount of cash available on 1st August 2019? OMR c. Will there be a necessity for Almarai Company to take a bank loan or overdraft? If yes, suggest the company as to how much minimum amount has to be taken as loan or overdraft and in which month it will be required? (7.5 marks)