b . The XY Z Company purchases for the next three months are expected to be as follows . All purchases are paid for in the same month . Ignore GST . January February March $ 10, 000 $ 12. 000 $ 1 4,000 Operating EXPENSES are forecastEd as follows : Insurance |payable in March! $ 1, 200 perYear Telephone |payable in January! $600 ( for 3 months ! Electricity / payable in January ! $300 ( for 3 months ! General Office EXPENSES $ 1OO per month plus 196 of PURCHASES Office Wages January $ 525 February $ 1, 613 March General office EXPENSES include $50 per month for depreciation . Required : Prepare a Cash payments budget for the period from January to