using the data below determine "cash" reported the budgeted balance sheet for 2017

$20,000 Cash balance on January 1, 2017 $700,000 Forecasted sales for 2017 80% Portion of forecasted sales will be on credit 70% Portion of credit sales to be collected in 2017 $12,000 Prior year accounts receivables expected to be collected in 2017 $20,000 One required principal payment due on December 31, 2017. One required interest payment due on December 31, 2017 based upon the outstanding loan balance of $120,000 at the end of December 31, 2017. Interest rate on loan is 10%. Cash Budget 1. Accounts receivable collected 2. Cash Sales Credit Sales 3. 4- Loan payment Interest payment 5. Net increase in cash 6. Add: beginning cash balance 20,000 Ending cash balance 7