Manchester Company$$s sales forecast for the first four months of $2022$ are as follows:

Month

January

February

March

April

Sales $($$$)$

$39,000$

$44,000$

$55,000$

$50,000$

Additional information provided is as follows:

$($i$)$ Sales for December $20192021$ were $$40,000.$

$($ii$)$ Seventy percent $(70\%)$ of sales will be for cash, while the remaining $30\%$ will be collected in the first month following the sale.

$($iii$)$ Raw material is purchased each month at $75\%$ of the previous month$$s sales. The supplier is paid in the current month of delivery. For example, purchases for January are based on expected sales for December and payment is made in January.

$($iv$)$ Wages is $$3,500$ per month.

$($v$)$ Bonus for the $1$st quarter will be paid in April. $$8,500$

$($vi$)$ Repairs and maintenance total $$4,100$ for April

$($vii$)$ Other expense is $$2,900$ each month.

$($viii$)$ Manchester Co ordered equipment costing $$2000$ $$20,000$ in February. A $40\%$ deposit will be made at ordering and the balance paid two months later at delivery.

$($ix$)$ Manchester Company$$s cash balance on $31$ December $2021$ was $$7,500$; however, $$20,000$ will be the minimum balance applied going forward.

$($x$)$ Short$-$term credit is arranged at an interest rate of $12$ percent per annum $(1$ percent per month$)$ to be paid monthly. The interest on any short$-$term borrowing is paid in the month after it is incurred.

Required:

Use the information above to prepare the cash budget for Manchester Company covering January to April $2022$