The opening cash balance on the 1 st January was expected to be $30,000. The sales budgeted were as follows: November 80,000 December 90,000 January 75,000 February 75,000 March 80,000 Analysis of records show that debtors settle according to the following pattern: 60% within the month of sale, 25% the month following, 15% the month following Extracts from the purchases budget were as follows: December 60,000 January 55,000 February 45,000 March 55,000 All purchases are on credit and past experience shows that 90% are settled in the month of purchase and the balance settled the month after Wages are $15,000 per month and overheads of $20,000 per month (including $5,000 depreciation) are settled monthly. Taxation of $8000 has to be settled in February and the company will receive settlement of an insurance claim of $25,000 in March. Prepare a cash Budget for January February and March