8 Given the information below prepare a cash budget for January Through June 9 10 11. 12 Sales Salaries Purchases Rent Other Taxes Interest Capital 13 October $300,000 $195,000 $90,000 $7,500 $13,000 $30,000 14 November $330,000 $214,500 $99,000 $7,500 $13,000 15 December $350,000 $227,500 $105,000 $7,500 $13,000 $17,500 16 January $400,000 $260,000 $120,000 $7,500 $13,000 $15,000 $45,000 17 February $420,000 $273,000 $126,000 $7,500 $13,000 18 March $440,000 $286,000 $132,000 $7,500 $13,000 $17,500 19 April $370,000 $240,500 $111,000 $7,500 $13,000 $15,000 20 May $360,000 $234,000 $108,000 $7,500 $13,000 21 June $340,000 $221,000 $102,000 $7,500 $13,000 $25,000 22 July $310,000 $ 201,500 $93,000 $7,500 $13,000 $15,000 23 August $280,000 $182,000 $84,000 $7,500 $13,000 $17,500 24 September $250,000 $162,500 $75,000 $7,500 $13,000 25 October $300,000 $195,000 $90,000 $7,500 $13,000 $15,000 26 27 Beginning Cash $70,000.00 28 Minimum Cash Balance $50,000.00 29 30 Sales are collected: 15% month of sale 31 50% month after sale 32 30% second mont after sale 33 5% third month afer sale 34 35 Bad Debt 2% of sales 36 37 Salaries Paid in month After Expense 38 39 40 Purchases Paid 2 months after expense 41 42 Rent, Other, Taxes, Capital Paid in month incurred 43 44 Interest on Short Term Borrowing 1% per month on cummulative borrowing