Wagas Ahmed and Co providing you the following information. Forecasted Opening Cash Balance - 1st April 2017 Estimated Sales Cash Sales 20% Collection Policy Purchases of materials Payment Policy Other Cash receipts & payments Feb-17 Mar-17 Feb-17 Mar-17 30,000 Month Apr-17 100,000 120,000 130.000 Apr-17 50% after one month of sales and balance in subsequent month May-17 Jun-17 Required: Prepare Cash Budget for SECOND quarter of 2017 Receipts May-17 Jun-17 Jul-17 50,000 60,000 Apr-17 75,000 Jul-17 50% after one month of purchase and balance in subsequent month 15.000 70,000 50.000 May-17 Jun-17 100,000 120,000 120,000 Payments 5,000 7,000 2,000 70.000 50,000 80,000