while $300,000 written off as bud detit in 2015 was roeavern int the first andith of than sernand. quarter in 2016. Rental incen me reteunting to $1,800,000 pet ansuszi is bradqehal for 2016 . daprociation of $100,000. (1) The table below provides information on budgered sales for the portods inilicatad: The nmusut is 5% of salos colloctad eack month. Micsesulimaoras expensas amounitite to $50,000 monthly was not includod in the operatingexpencos bund ryt. for ons month latar, and the balunce anomenth latpr. Tha following table jrovidas information on burlpoted parchases for the period sindientod: The company's records indicated that 70% of the company's sales were for cash; gnd 30% was. received two months offar sale. Q) Taxition for the first quarter of 2016 amounting to $600,000 was due in the first month of the cacond quarter: (3) In March 2016 , the company bought a motor car for $2,000,000. Tha pgreemant weth the suppliar was that a down psyment of $1,000,000 would be mada in the last month of the first quarter in 2016 and the balimce paind off in equal amounts during the first two months of the socond quarter in 2016 . (4) The company is to roceive insurance clamn of $4,500,000 fordamagy done to its warahouse (4) The company is to roceive insurance clam of $4,500,000 fordamage done to its warahouse $1,000,000 in May 2016;$2,000,000 in June 2016; and the balance in Jaly 2016 . (b) A payment summary for purchgses sliowing cash purahas as and credit purchases neparately for the second quarter of 2016 . (5 marks) (5) Investments held at Bank of St. Andraw will mature in June 2016 The amount to be (c) A cash budget for the second quarter of 2016. Clearly show amourars for anchsales, collected is expected to be $9,500,000. The company planned to piny divideuds to its credit sales, cash purchases, credit gurchases aind totals (25marle)