The Cash Budget The following information pertains to the January operating budget for Casey Corporation. - Budgeted sales for January $207,000 and February $100,000. - Collections for sales are 60% in the month of sale and 40% the next month. - Gross margin is 35% of sales. - Administrative costs are $10,000 each month. - Beginning accounts receivable is $29,000. - Beginning inventory is $16,000. - Beginning accounts payable is $67,000. (All from inventory purchases.) - Purchases are paid in full the following month. - Desired ending inventory is 30% of next month's cost of goods sold (COGS). Prepare cash collection and cash disbursement schedules