PLEASE SHOW YOUR WORKINGS!

QUESTION $1$

Below is the information for Haryana Jaya:

a$)$ Haryana Jaya's projected sales for the first eight months of $2019$ are as follows:

$\backslash$table$[[$January$,90,000,$May,$300,000],[$February$,120,000,$June,$270,000],[$March$,135,000,$July,$225,000],[$April$,240,000,$August,$150,000]]$

$10\%$ of sales is for cash, another $60\%$ is collected in the following month and $30\%$ is collected in the second month following sales.

b$)$ Haryana Jaya purchases raw materials one month before its sales. Amount of raw materials needed is $50\%$ of its sales. $50\%$ of the purchases are paid in the month of purchase and the balance is paid one month after the purchase.

c$)$ The company pays RM$10,000$ per month for renting purposes, RM$25,000$ for salaries and RM$20,000$ each month for other expenditures. Depreciation is fixed at RM$5,000$ per month.

d$)$ Annual interest of RM$30,000$ is to be paid in May, June and July.

e$)$ A new machine worth RM$110,000$ will be purchased in June in order to replace the existing machine.

f$)$ The firm will receive dividend of RM$40,000$ from its investment beginning of each quarter.

g$)$ The firm's cash balance on ${31}^{st}$ March is RM$10,000$ and a minimum balance of RM$10,000$ is to be maintained at all times.

Prepare a cash budget covering the second quarter of $2019.$

$(15$ marks$)$