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Problem 5 Prepare a cash budget for the months of March, April and May 2020 on the basis of the following information. Income and Expenditure forecasts: Months Credit Credit Wages Manu - Office Selling Sales Purchases facturing Expenses Expenses Expenses January $25,000 $ 5,000 $3,000 $2,000 $ 1,000 $ 2,000 February 15,000 4,000 5,000 3,000 1,000 3,000 March 20,000 5,000 2,000 2,000 2,000 4,000 April 15,000 6,000 4,000 3,000 2,000 3,000 May 25,000 7,000 2,000 2,000 1,000 4,000 June 30,000 3,000 6,000 3,000 1.000 3,000 Other Information is as follows: 1. Cash balance on 1st March, 2020 $150,000 2. Plant costing $ 10,000 is due for delivery in May, payable 10% on delivery and the balance after 3 months. 3. Advance tax of $5,000 each is payable in April and May 4. Period of credit allowed (i) by suppliers two months and (ii) to customers one month. 5. Lag in payment of manufacturing expenses one month 6. Lag in payment of office and selling expenses one month 7. Wages are paying in same month