You are the manager of Forest Products Inc. On January 1, you expect the following balances. During January, you expect to receive: - All the $25,000 outstanding from November - $50,000 of the amount outstanding from December - 50% of January's sales revenue (the remainder being sold on credit) During January, you expect to pay: - $75,000 current trade liabilities - All the expenses, except $1,000 of depreciation and $200 expiration of prepayments Inventory bought in January will be paid for in February. Required Prepare a cash budget for January. You are the manager of Forest Products Inc. On January 1, you expect the following balances. During January, you expect to receive: - All the $25,000 outstanding from November - $50,000 of the amount outstanding from December - 50% of January's sales revenue (the remainder being sold on credit) During January, you expect to pay: - $75,000 current trade liabilities - All the expenses, except $1,000 of depreciation and $200 expiration of prepayments Inventory bought in January will be paid for in February. Required Prepare a cash budget for January