The Mertzon Mining Co. has the following forecast sales:

January $250,000

Feb. 230,000

March 290,000

April 320,000

Credit sales are 70% of total sales and are collected as follows: 60% one month after the sale, 30% two months after the sale and 10% three months after the sale.

Expected accounts payable are as follows:

Feb. $80,000

March $70,000

April $90,000

Accounts payables are paid as follows: 60% one month after the credit purchase and 40% two months after the purchase. In addition to accounts payable, the firm also pays rent of $20,000 a month and utilities of $12,000 a month. There is also a insurance premium of $7,000 due in April.

Beginning cash for April is $7,500.

Based on the above information, prepare a cash budget for April. It should be properly labeled and in good accounting order.