Help please it's final. I only have 1 hour

Make sure your hand writing is clear and the answer is correct (NO plagiarism)

Muzzas Magic Shows has provided the following estimates relating to the third quarter of the financial year, the quarter beginning 1 January 2022 and ending 31 March 2022:

Cash Sales	$368,000
Administration paid	$112,800
Depreciation of furniture	$2,520
Payment to Creditors	$423,200
Credit Sales	$739,200
Credit Purchases	$262,400
Office Furniture purchased	$100,800
Receipts from Debtors	$572,000
Receipt of Loan	$120,000
Utilities paid	$30,400
Wages paid	$432,000

The cash balance at 1 January 2022 is expected to be $90,000.

Required

1. Prepare a Cash Budget for the quarter ending 31 March 2022.

2. Based on your Cash Budget, comment on whether the business can afford to purchase a vehicle for $55,000 during this quarter.