uestion: he opening cash balance on 1st January was expected to be $40 000.00. The sa were as[SK1] follows: anuary $89 500.00 February $87 250.00 Payments for purchases are to be as follows: January $65 000.00 February $56 000.00 March $88 000.00 March $64 000.00 Wages are $10 000 per month and overheads of $30 000 per month (including $ 10 000depreciation) are settled monthly Taxation of $10 000 has been settled in February and the company will receive settle insurance claim of $35 000 in March. Required: Write up the cash budget for the period and calculate the opening balances for Febru March