Actual sales in November and December 2017 were $375,000 and 266,667 , respectively. Sixty percent of sales are on credit. The firm collects 60% of these credit sales during the first after the sale and the remainder during the following second month. Purchases constitute 60% of the next month's sales. The company pays 50% during the first month after the purchase was made and the remainder in the next month. Wages, taxes and other expenses are expected to be 30% of forecasted sales. A major capital expenditure of $70,000 is expected in March. Interest payments are expected to be $30,000 every month and the company needs a minimum cash balance of $25,000. The beginning cash balance is $30,000. Using the provided simple cash budget example similar to what we did in class, help the finaneial staff of Precise Speed Inc., to prepare their cash budget for January to June 2018. Use an interest rate of 9% for any borrowings: Actual sales in November and December 2017 were $375,000 and 266,667 , respectively. Sixty percent of sales are on credit. The firm collects 60% of these credit sales during the first after the sale and the remainder during the following second month. Purchases constitute 60% of the next month's sales. The company pays 50% during the first month after the purchase was made and the remainder in the next month. Wages, taxes and other expenses are expected to be 30% of forecasted sales. A major capital expenditure of $70,000 is expected in March. Interest payments are expected to be $30,000 every month and the company needs a minimum cash balance of $25,000. The beginning cash balance is $30,000. Using the provided simple cash budget example similar to what we did in class, help the finaneial staff of Precise Speed Inc., to prepare their cash budget for January to June 2018. Use an interest rate of 9% for any borrowings