Please show work, thanks. Prepare cash budget.

Boston Accounting Services provides accounting services to small businesses. The following data relate to the preparation of a master budget for January $2020.$

$\backslash$table$[[$Cash$,$$$62,000,$Accounts payable,$$40,000],[$Accounts receivable,$48,000,$Note payable,$10,000],[$Equipment $($net$),80,000,$Common stock,$50,000],[,$Retained earnings,$90,000],[$Total$,$$$190,000,,$$$190,000]]$

Revenue in December $2019$ was $$80,000,$ and revenue budgeted for January $2020$ is $$70,000.$

$40$ percent of revenue is collected in the month earned, and $60$ percent is collected in the subsequent month. The receivable balance at the end of $2019$ reflects revenue earned in December $2019.$

Monthly expenses $($excluding interest expense$)$ are budgeted as follows: salaries, $$50,000$; rent, $$3,000$; depreciation of equipment, $$3,000$; utilities, $$1,000$; other, $$2,000.$

Expenses are paid in the month incurred. Purchases of equipment are paid in the month after purchase. The $$40,000$ payable at the end of $2019$ represents money owed for the purchase of equipment in December $2019.$ No purchases of equipment are anticipated for January.

The note is at $10$ percent per annum and requires monthly interest payments of $$83.$ The entire principal must be paid in October $2020.$

The tax rate is $20$ percent. Taxes are paid as incurred.