You have the following information about a restaurant in Year 0007: Actual sales revenue in November was $80,000. Actual purchases (cost of sales) in November was $30,000. Sales revenue will be 40% cash. Credit card sales revenue is 60% of sales, of which 96% is collected in the month of sales; the remaining 4% is collected early in the following month. Purchases of inventory, 20% is paid in the month of purchase and the remaing 80% is paid in the month following the purchases. The condensed budgeted income statement for December, Year 0007, follows:

Sales revenue $75,000

Cost of sales $29,000

Wages expense 21,000

Operating expenses 14,000

Rent expense 5,500

Depreciation expense 2,500

Total expenses ( 72,000)

Operating income $ 3,000

The wages and operating expenses included in the budgeted income statement will be paid in December, Year 0007. Rent was prepaid in January for the entire year. Prepare a cash budget for the month of December, Year 0007. November ending cash is $4,800.