You are required to develop a Financial Management Budget for Blossom Media Incorporated in line with the information provided below to track all the income and expenses for the business to determine if the business will expect a surplus or shortfall in cash. a) Prior vear balances for the following accounts are provided below: Bank (favourable) R 56,000 b) Budgeted total sales amount to R2,250,000 (25\% sold during January; 35% during February and the remaining amount in March) and previous months' credit sales for the prior three months are as follows: - October R 160,000 - November R 195,000 - December R 215,000 c) 50% of the total sales are on credit. d) Debtors are expected to pay according to the following schedule: 60% in the month following the month of sales. - 25% in the second month following the month of sales. - 10% in the third month following the month of sales. - 3% in the fcurth month following the month of sales. I. 2% written off as irrecoverable in the last month. You are required to develop a Financial Management Budget for Blossom Media Incorporated in line with the information provided below to track all the income and expenses for the business to determine if the business will expect a surplus or shortfall in cash. a) Prior vear balances for the following accounts are provided below: Bank (favourable) R 56,000 b) Budgeted total sales amount to R2,250,000 (25\% sold during January; 35% during February and the remaining amount in March) and previous months' credit sales for the prior three months are as follows: - October R 160,000 - November R 195,000 - December R 215,000 c) 50% of the total sales are on credit. d) Debtors are expected to pay according to the following schedule: 60% in the month following the month of sales. - 25% in the second month following the month of sales. - 10% in the third month following the month of sales. - 3% in the fcurth month following the month of sales. I. 2% written off as irrecoverable in the last month