Solar Equipment Ltd. wants to arrange overdraft facilities with its bankers during the period March to May. Prepare a cash budget for the above period on the basis of the under-mentioned data indicating the extent of ban

Solar Equipment Ltd. wants to arrange overdraft facilities with its bankers during the period March to May. Prepare a cash budget for the above period on the basis of the under-mentioned data indicating the extent of bank overdraft facilities, the company will require at the end of each month: Month Sales (₹ in Lakh) Purchases (₹ in Lakh) Wages (₹ in Lakh) January 9000 6,240 600 February 9600 7,200 700 March 5400 12,150 550 April 8700 12,300 500 May 11,300 13,400 750 Additional Information : 50% of the credit sales will be realized in the month following the month of sales and remaining 50% in the second month following the month of sales. The creditors for purchases will be paid in the month following the month of purchases. Workers are paid in the same month for their wages. Cash at bank on 1st March, is estimated to be ₹1,250 lakh.