Prepare a cash budget from the given data using a spreadsheet.

The directors of Kingston & Co. were concerned about the company’s cash flow. They requested their accountant to prepare a cash budget for the four months ending 30 April 2022

The following sales figures are for the months of November 2021 to June 2022. The figures from January 2022 onward are estimated:

Actual sales	$
November 2021	60,000
December 2021	64,000
Forecast sales
January 2022	65,000
Feb 2022	70,000
March 2022	72,500
April 2022	76,250
May 2022	80,000
June 2022	78,750

Half the sales are normally paid for in the month in which they occur and the customers are rewarded with a 5% cash discount. The remaining sales are paid for net in the month following the sale.

(ii) Goods are sold at a mark-up of 25% on the goods purchased one month before sale. Half of the purchases are paid for in the month of purchase and a 4% prompt settlement discount is received. The remainder is paid in full in the following month.

(iii) Wages of $12000 per month are paid in the month in which they are earned. It is expected that the wages will be increased by 10% from 1 March 2022

(iv) Rent will cost $60000 per annum payable three monthly in advance in January, April, July and December each year.

(v) The directors have arranged a bank loan of $60000 which would be credited to company’s current account in February 2022.

(vi) The half-yearly interest on 200000, 8% debentures of $1 each is due to be paid on 15 January 2022.

(vii) The ordinary dividend of $12000 for the year 2015 will be paid in March 2022.

(viii) The bank balance at 31 December 2021 is $12000.

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