Complete the question in the picture below and explain all the steps taken and how its done

21. Cash budget example The opening cash balance on 1 January was expected to be 630,000. The sales budgeted were as follows: E November 80,000 December 90,000 January 75,000 February 75,000 March 80,000 Analysis of records shows that debtors settle according to the following pattern: 60% within the month of sale. 25% the month following. 15% the month following. Extracts from the Purchases budget were as followsit E December 60,000 January 55,000 February 45,000 March 55,000 All purchases are on credit and past experience shows that 90% are settled in the month of purchase and the balance settled the month after. Wages are $15,000 per month and overheads of $20,000 per month (including $5,000 depreciation) are settled monthly. Taxation of 68,000 has to be settled in February and the company will receive settlement of an insurance claim of $25,000 in March. Prepare a cash budget for January, February and March