CH is a building supplies company that sells products to trade and private customers. Budget data for the months November - January are given below: November December January Credit sales $ 250,000 $ 250,000 $ 260,000 Cash sales $ 70,000 $ 65,000 $ 82,000 Credit purchases $ 180,000 $ 180,000 $ 200,000 Other operating costs $ 90,000 $ 90,000 $ 122,000 (excluding depreciation) 80% of credit sales is collected one month after sale; 18% two months after sale; 2% is written off as a bad debt. Cash sales are collected in the month of sale. 75% of credit purchases is paid one month after purchase and the remaining 25% is paid two months after purchase. All other operating costs are paid in the month they are incurred. CH has placed an order for 4 new forkflift trucks that will cost $25,000 each. The scheduled payment date is in January. The cash balance at 1st November is estimated to be $15,000. Q1 Prepare a cash budget for each month measuring the Ending Cash Balance of January. Beginning cash balance Ending cash balance November December 15,000 January