Please prepare a cash budget.

BACKGROUND INFORMATION
January to April 2016
Forecasted Sales:
November (2014)	95,000
December	110,000
January (2015)	80,000
February	105,000
March	145,000
April	160,000
Collections: Information provided by Credit Manager
Sales
Cash Basis of monthly sales	20%
Collected after 30 days	60%
Collected after 60 days	20%
Monthly Selling and Administrative Expenses
Salries	$32,000.00
Telephone	$12,000.00
Amortization	$800.00
Rent	$2,100.00
Hydro	$1,200.00
Office Supplies	$400.00
Additional Expenses
Taxes(February and June)	$4,000.00
Equipment Purchase (January)	$26,000.00
Cash Balance On January 1	$52,000.00

Cost of sales, is (COGS) 50% of sales and is incurred in the month in which the sales are made. The goods are paid for 30 days (net30) after the purchases
In dollars	Oct.	Nov.	Dec.
Revenue (previous year)	0	95,000	110,000
Purchases
Payment schedule
Cash sales = 20%	0.2
30-day payment = 60%	0.6
60-day payment = 20%	0.2
Purchase schedule
Paid in 1st month = 00%	0
Paid during 2nd month = 100%	1
	Jan.	Feb.	March	April
Revenue	80,000	105,000	145,000	160,000
Cash sales = 20 %
30-payment = 60 %
60-day payment = 20%
Total monthly receipts
Purchases
Paid during 1st month = 0 %
Paid during 2nd mo. = 100 %
Total monthly purchases
Receipts
Expenses
Purchases
Salaries
Telephone
Rent
Hydro
Office Supplies
Taxes
Equipment
Total expenses
Surplus (-) /month
Surplus(-) /cumulative
Beginning bank balance
Receipts
Expenses
Ending bank balance