Please help me Question 1The following data is available from the various functional budgets prepared at Nur IkaEnterprise for the year 2022:JanuaryRM '000MarchFebruaryRM *00084AprilRM *000RM '000Cash sales1287290Credit salesPurchases for resaleSalaries and wagesOverhead expenses7608001,140880640560520320266280238248160150160140Other information is available as follows:(1)5% of all sales on credit are expected to become bad debts. Receipts fromcredit customers are due in the following sales.All goods are bought on credit from suppliers who allow 2.5% cash discount forpayment in the month following purchase.(ii)(iii)Salaries and wages are paid in the month they are earned.(iv) Payments for overhead expenses are made in the month the expenses areincurred. The above overhead budget includes RM28,000 per month fordepreciation.Purchase two new vans, costing RM21,000 each, are to be paid in April.(v)(vi)Rental for new office amounting RM175,000 is to be paid in March.(vii) The balance at the bank at the start of February is expected to be RM220,000.Required:Prepare a monthly Cash Budget for February, March and April showing thebank balance at each end of the month.(a)(b)List TWO (2) benefits from the use of monthly cash budgets.

The question is related to the Cash Budget. A Cash budget is a Statement of Cash Receipts and Cash…

Question 1 The following data is available from the various functional budgets prepared at Nur Ika Enterprise for the year 2022: January RM *000 February RM *000 84 April RM '000 March RM '000 Cash sales Credit sales Purchases for resale Salaries and wages Overhead expenses 128 72 90 1,140 760 640 800 880 560 520 320 266 280 238 248 160 150 160 140 Other information is available as follows: (1) 5% of all sales on credit are expected to become bad debts. Receipts from credit customers are due in the following sales. (i) All goods are bought on credit from suppliers who allow 2.5% cash discount for payment in the month following purchase. (iii) Salaries and wages are paid in the month they are earned. (iv) Payments for overhead expenses are made in the month the expenses are incurred. The above overhead budget includes RM28,000 per month for depreciation. (v) Purchase two new vans, costing RM21,000 each, are to be paid in April. (vi) Rental for new office amounting RM175,000 is to be paid in March. (vii) The balance at the bank at the start of February is expected to be RM220,000. Required: (a) Prepare a monthly Cash Budget for February, March and April showing the bank balance at each end of the month.