Prepare a Cash Budget for the months of January to March 2019 6 Sales information for November and December of 2018 and Sales forcast for January to March of 2019 are as follows 8 November (2018) 1,75,000 9 December (2018) 1,90,000 10 January (2019) 1,80,000 11 February (2019) 1,80,000 12 March (2019) 1,95,000 13 14 15 The following information is also available from the credit manager regarding cash sales and credit sales 16 Cash sales 20% 17 Collect after 30 days 50% 18 Collect after 60 days 30% 19 20 21 Cost of sales are 60% of each month's sales 22 These purchase are paid 30 days after the purchases are made 23 24 Monthly sellling and adminsitrative expenses are as followed: 25 Rent 9,200 26 Salaries 32,000 27 Utilities 2,000 28 Office supplies 1,500 29 30 Other Information: 31 Their will be a purchase of an equipment in February for: $50,000 32 The cash balance on January 1, 2019 is: $27.500 33 34