Tutorial 8 Extension Question Priska Ltd is expected to begin January with $50,000 cash. She forecasts that sales revenue in January will be $250,000, with cash sales representing half of this sales revenue, the other half is expected to be collected in February. She is scheduled to receive $17,000 cash on a bill receivable in January. Inventory purchases are expected to be $250,000 during January, however Priska Ltd will only pay for three quarters of these purchases during January. In addition operating expenses of 15,000 are paid in January. Machinery is depreciated $10,000 during the month of January. Priska Ltd. requires a $50,000 minimum cash balance at the end of each month and the bank automatically extends credit to the store in multiples of $10,000. Prepare Priska Ltd's cash budget for January