Given the following information, construct the firm's cash budget for the month of January 202X. A. Projected sales for January are $50,000. B. Fifty percent (50%) of sales are for credit and collections occur one (1) month after the sale. Fifty percent (50%) of sales are cash sales. C. Accounts receivable on January 1st is $17,000. D. Monthly fixed disbursements are $15,000. E. Variable disbursements are 60% of current month sales. F. There is a tax payment of $5,000 due in January. G. Cash balance on January 1st is $10,000. H. The minimum required cash balance is $5,000. 1. Complete a cash budget for January in the table below. 2. State whether there is a cash surplus or shortage and how much (in dollars and whether surplus or shortage) it is projected to be at the end of the month.

CASH BUDGET:	JANUARY
1. RECEIPTS
Sales	"$50,000"
Cash sales
Collections
Total cash receipts
2. DISBURSEMENTS
Variable disbursements
Fixed disbursements
Other disbursements
Total cash disbursements
3. CASH BUDGET SUMMARY
Total cash receipts
Total cash disbursements
Net change during the month
Beginning cash
Ending cash
Required cash
Excess Cash or (Shortage) in dollars
Is it an Excess or (Shortage)