QUESTION TWO $[25]$

The following information for PHC Ltd is available: MAR APR MAY JUN JUL AUG

Cash revenue:March$180000,$April $200000,$ May $250000,$ June$290000,$ July $320000,$ August $350000$

Credit revenue: March $380000,$ April $410000,$ May $500000,$ June $560000,$ July $560000,$ August $600000$

Total purchases: March $320000,$ April $340000,$ May $385000,$ June $432000,$ July $445000,$ August $460000$

Salaries and wages: March $63000,$ April $63000,$ May $63000,$ June $63000,$ July $63000,$ August $63000$

Other expenses: March $12000,$ April $12500,$ May $12500,$ June $14500,$ July $54800,$ August $59000$

Additional information: $(1)$ Credit revenues are collected as follows: $50\%$ within $30$ days $($the next month$)25\%$ within $60$ days $15\%$ within $30$ days $10\%$ uncollectible $($bad debt$)$

$(2)$ The following discount is given on revenues: $10\%$ on all cash revenue $5\%$ on credit revenue paid within $30$ days

$(3)$ Salaries, wages and other expenses are paid in cash.

$(4)$ Other expenses include depreciation of R$4000$ per month.

$(5)55\%$ of all purchases are on credit and are paid for in the following month. The rest represents cash purchases.

$(6)$ The bank balance on $01$ June was R $200000.(7)$ A dividend of R$3000$ will be declared on $31$ August.

Required: Prepare the cash budget for the months June, July and August $($Use separate columns for June, July and August$).$ Please use template