January 2021 Month Material purchases December 2020 R50 000 February 2021 R60 000 R39 000 There were no material purchases outstanding from the months before December 2020. 30% of purchases are paid in cash. 70% of purchases are on credit Creditor terms are as follows: o 65% of purchases are paid in the month following the purchase. - 15% of purchases are paid in the second month following the purchase. 20% of purchases are paid in the third month following the purchase. Received interest income from an investment in cash in February is R17 250. Rent expense, including utilities, is R12 000 a month. Depreciation of video and photography and editing equipment is R17 750 per month. A further provision was raised in respect of possible credit losses in February, R6 000. Mr Pix receives R4 500 a month from the company in respect of personal expenditure. REQUIRED: Prepare the cash budget of Photoshop for the months of January and February 2021 only. Round off all answers and workings to two decimal places