Prepare a Cash Budget for the months of January to March 2017 Sales information for November and December of 2016 and Sales forcast for January to March of 2017 are as follows November (2016) 180,000 December (2016) 190,000 January (2017) 185,000 February (2017) 160,000 March (2017) 175,000 The following information is also available from the credit manager regarding cash sales and credit sales Cash sales 30% Collect after 30 days 60% Collect after 60 days 10% Cost of sales are 60% of each month's sales These purchase are paid 30 days after the purchases are made Monthly selling and adminsitrative expenses are as followed: Rent Salaries Utilities Office supplies 7,200 32,000 2,000 1,500 Other Information: Their will be a purchase of an equipment in February for: The cash balance on January 1, 2017 is: $30,000 $27,500