monthly Cash Budget (accounting)

Prepare a monthly Cash Budget in tabular form for the months of February, March and April; showing the bank balance at each month's end. Company Information and Background The following data is available from the various functional budgets prepared at Congo Limited. JanuaryFebruaryMarchApril $'000 $'000 $'000 $'000 CASH SALES 128 84 72 90 Credit Sales 1,140 760 640 800 Purchases for Resale 880 560 520 320 Salaries and Wages 266 280 238 248 Overhead Expense 160 150 160 140 Other information is available as follows: 1.5% of all sales on credit are expected to become bad debts. Receipts from credit customers are due in the month following sale. [login to view URL] goods are bought on credit from suppliers who allow 2½% cash discount for payment in the month following purchase. [login to view URL] and wages are paid in the month in which they are earned. [login to view URL] for overhead expenses are made in the month following the month in which expenses are incurred. The above overhead budget includes $28,000 per month for depreciation. [login to view URL] new vans costing $21,000 each are to be paid for in April. [login to view URL] amounting to $175,000 is to be paid in March. [login to view URL] balance at the bank as at 31st January is expected to be $222,000.