A) Prepare the cash budget of ABACUS Inc. for the quarter October to December, based upon the following data and additional information. (14 marks) Purchase Month July August September October November December Sales (S) 90,000 93,500 86,000 78,000 78,500 88,600 Additional Information: 30,000 23,000 48,900 34,560 35,980 37,400 Wages (S) 9,000 9,400 9,900 7,000 18,600 8,000 Selling Overheads (S) 7,850 9,300 3,610 3,510 3,400 3.250 Production Overheads ($) 5,580 8,820 9,470 6,880 7,000 7,680 The Cash balance at 1 October is $ 850000 Purchases are 50% in cash and balance are paid the month Following. Sales are 50% Cash, 40% Received month following and Balance 10% in the month following the second month. A plot of land will be purchased and to be paid in October $ 75000. Wages are paid one month in arrear and all overheads are paid two months in arrear ABC Ltd is due to repay a loan of $ 8000 in November. A dividend of $ 80,000 is expected to be paid in November