Question #2 (20 marks) Cash budgeting is critical to a company’s financial information needs. The following information

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Question #2 (20 marks)
Cash budgeting is critical to a company’s financial informationneeds. The following information was extracted from the records ofA & B Manufacturing Company Limited. The opening cashbalances on January 01, 2021 was expected to be $30,000. Thebudgeted sales were as follows:
Budgeted Sales
Month Year
$
November 2020
80,000
December 2020
90,000
January 2021
80,000
February 2021
75,000
March 2021
60,000
April 2021
70,000
Analysis of records shows that debtors settle according to thefollowing pattern:
Extracts of the purchases budget were as follows:
Purchases budget
Month Year
$
December 2020
65,000
January 2021
50,000
February 2021
75,000
March 2021
70,000
Required: