Camp and Fevurly Financial Planners have forecasted revenues for the first six months of 2020, as shown in the following table. Month November 2019 Revenue Month Revenue 48,000 March 30,000 December January 2020 February 45,000 25,000 May 27,000 June April 38,000 40,000 45,000 The firm collects 60% of its sales immediately, 39% one month after the sale, and 1% are written off as bad debts two months after the sale. The firm assumes that wages and benefits paid to clerical personnel will be $7,000 per month while commissions to sales associates average 25% of collectable sales. Each of the two partners is paid $5,000 per month or 20% of net sales, whichever is greater. Commissions and partner salaries are paid one month after the revenue is earned. Rent expense for their office space is $3,500 per month, and lease expense for office equipment is $800. Utilities average $250 per month, except in May and June when they average only $150. The ending cash balance in December 2019 was $12,000. Create a cash budget for January to June 2020.