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) December (2016) January (2017) February (2017) March (2017) 140,000 155,000 120,000 135,000 140,000 The following information is also available from the credit manager regarding cash sales and credit sales - Cash sales 40% Collect after 30 days 40% 7 Collect after 60 days 20% 8 9 C0 Cost of sales are 70% of each month's sales 21 These purchase are paid 30 days after the purchases are made 22 23 24 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 purch $30,000 The cash balance or $27,500 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) December (2016) January (2017) February (2017) March (2017) 140,000 155,000 120,000 135,000 140,000 The following information is also available from the credit manager regarding cash sales and credit sales - Cash sales 40% Collect after 30 days 40% 7 Collect after 60 days 20% 8 9 C0 Cost of sales are 70% of each month's sales 21 These purchase are paid 30 days after the purchases are made 22 23 24 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 purch $30,000 The cash balance or $27,500