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Prepare Summerlea council’s cash budget from January 2022 to April 2022 from the following budgeted data

Accounting

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1. Prepare Summerlea council’s cash budget from January 2022 to April 2022 from the following budgeted data.

The following additional information is available:

1. 35% of the customers pay cash and the remainder take 1 month to pay.
2. Rent is paid in advance for 6 months on 1^st of May and 1^st of November each year.
3. 45% of the purchases are paid for after 1 month and the remainder in 2 months’ time.
4. Wages are paid in the current month.
5. Other overheads are paid after 2 months.
6. Capital expenditure is paid in the following month.

Opening cash balance for June was £2,800 overdraft.