F Prepare a Cash Budget for the months of January to March 2017 Sales information for November and December of 2016 and Sales forcast for January to March of 2017 are as follows November (2016) December (2016) January (2017) February (2017) March (2017) 140,000 155,000 120,000 135,000 140,000 1 3 7 The following information is also available from the credit manager regarding cash sales and credit sales 5 Cash sales 40% 6 Collect after 30 days 40% 7 Collect after 60 days 20% 8 9 O Cost of sales are 70% of each month's sales 1 These purchase are paid 30 days after the purchases are made 2. Monthly sellling and adminsitrative expenses are as followed: Rent Salaries Utilities Office supplies 3 Other Information: Their will be a purchase of an equipment in February for: 1 The cash balance on January 1, 2017 is: 6,200 32,000 2,000 1,500 $30,000 $27,500 2