Prepare a cash budget of a business firm for Jan, Feb, and March from the information given below: MonthsSales (Rs)Purchase (Rs)Wages (Rs)Expenses…

Prepare a cash budget of a business firm for Jan, Feb, and March from the information given below: MonthsSales (Rs)Purchase (Rs)Wages (Rs)Expenses (Rs)December120,00050,00020,00013,000January110,00060,00025,00014,000February10,00070,00022,00011,000March110,00040,00020,0009,000 Additional information: ➤ 60 % of the sales are for cash and remaining is collected in next month. ➤ 50 % of the purchases are for cash and balance is paid in next month. ➤ Wages are paid in same month. ➤ Bank loan installment of Rs 12000 need to be paid on February. ➤ Opening cash balance Rs 15,000