Prepare a Cash Budget for the months of January to March 2019 Sales information for November and December of 2018 and Sales forcast for January to March of 2019 are as follows November (2018) 140,000 December (2018) 155,000 January (2019) 120,000 February (2019) 135,000 March (2019) 140,000 The following information is also available from the credit manager regarding cash sales and credit sales Cash sales 40% Collect after 30 days 40% Collect after 60 days 20% Cost of sales are 70% of each month's sales These purchase are paid 30 days after the purchases are made Monthly sellling and adminsitrative expenses are as followed: Rent 6,200 Salaries 32,000 Utilities 2,000 Office supplies 1,500 Other Information: Their will be a purchase of an equipment in February for: $30,000 The cash balance on January 1, 2019 is: $27,500