Angel Enterprises anticipated sales for the months are given below

January: $22,000

February: $23,800

March: $24,700

April: $26,000

Prepare aCash Budgetbased on the information below for the months of January, February, March, and April. (Show all calculations, responses can be uploaded as an image)

• Credit sales are paid 50% the same month and 50% the following month (credit sales for December last year were $24,000)
• Credit purchases are paid 40% of sales; the full amount paid to the suppliers in the month they are incurred
• Wages and expenses are 30% of sales every month; paid in the month they are incurred
• In March, the company pays $42,000 cash for new equipment
• The opening cash balance in January is $17,000

(Hint: Show total cash collections, total cash disbursements, and ending cash balance for each month)