Kgale Quarries [LM1] Pty Ltd has asked you to prepare a cash budget for the three months from January to March 2018.

The following information has been provided starting from November 2017:

The sales budgets were as follows:

November	20,000
December	22,500
January	18,750
February	18,750
March	30,000

Purchases budget were as follows:

December	20,000
January	13,750
February	11,500
March	13,800

1. Receivables settle accounts as follows: 60% within the month of sale,25% the month following and 15% the month thereafter.
2. All purchases are on credit and are settled 90% in the month of purchase and the balance the following month.
3. Wages of P3,750 per month are paid in the month incurred
4. Overheads P5,000 per month include P1,250 depreciation, which are settled monthly.
5. Tax of P2,000 has to be settled in February
6. The company will receive settlement of an insurance claim of P6,250 in March
7. The opening cash balance on 1st January was expected to be P10,000.

Required :

Prepare a cash budget for January to March 2018.