Given the following information, complete the cash budget:

a. Collections occur one month after the sale.

b. January’s credit sales were $80,000.

c. The firm has a certificate of deposit for $40,000 that matures in

April.

d. Salaries are $145,000 a month.

e. The monthly mortgage payment is $25,000.

f. Monthly depreciation is $20,000.

g. Property tax of $35,000 is due in February.

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February March $150,000 $200,000 20,000 April $250,000 60,000 Sales Cash sales Collections Other receipts Total cash receipts Salaries Other disbursements Total cash disbursements Net change during the month Beginning cash Ending cash Required level of cash Excess cash or (shortage) 30,000 30,000 10,000 10,000 10,000