Fiona Enterprises., anticipated sales of the months are given below:

January $-$ $$25,000,$ February $-$ $$18,800,$ March $-$ $$23,700$

Prepare a Cash Budget based on the information below for the months of January, February, and March.

Credit sales are paid $50\%$ the same month and $50\%$ the following month $($credit sales for December last year were $$16,000)$

Credit purchases are $30\%$ of sales;

Credit purchases are paid full to the suppliers in the month they are incurred

Wages and expenses are $20\%$ of sales every month; paid in the month they are incurred

In February, the company pays $$35,000$ cash for new equipment

The opening cash balance is $$12,000$