UTX Corporation's sales and purchases for the last three months are as following:

Sales ($)

Purchases ($)

October

100,000

80,000

November

90,000

100,000

December

120,000

75,000

For the next three months, it estimates sales and purchases to be as following:

Sales ($)

Purchases ($)

January

90,000

70,000

February

80,000

70,000

March

80,000

70,000

UTX pays 40 percent of purchases in cash and gets a 4 percent discount.Another 40 percent of purchases are paid the next month, and the final 20 percent of purchases are paid in the second month after the purchase (for example, 40 percent of October purchases are paid in October, 40 percent October purchases are paid in November, and 20 percent October purchases are paid in December).Half of the sales are made in cash, and the balance is collected the next month.Cash sales are given a two percent discount, and five percent of credit sales end up as bad debt.The monthly operating expenses for In-tech Corporation's are $10,000.UTX expects to sell one of its machinery in March for $25,000.UTX will buy the replacement in April for $50,000.The cash balance as on December 31 was $50,000.In-tech has a target cash balance of $50,000.Make a monthly cash budget for the next three months.