There was no sales or purchases in the months December and November. Please make a monthly cash budget for the months January and February. A business sells $ 60,000 and $ 80,000 worth of goods in January and February respectively. The controller indicates that 50% of the customers pay their bills on a cash basis, 40% in 30 days and 10% in 60 days. During the month of January and February, the company purchased 30,000 and $50,000 worth of goods from suppliers respectively. The company's policy is to pay 50% on a cash basis and the other 50% during the following 30 days. The monthly administrative expenses are broken down as follows: Salaries $ 12,000 Depreciation 2,000 Rent 3,000 Office supplies 500 Communication services 500 The company's opening cash balance for the month of January is $ 1,000