Hanover Inc. expects to have a cash balance of 546.000 on January 1, 2017. Relevant monthly budget Prepare cash budget, data for the first two months of 2017 are as follows: (10 4) Al'

1. Collections from customers: ………….. January 575,000 ………….. February $150,000

2. Payments to suppliers: ………………….. January $45,000 ………….. February $70,000

3. Direct labour: ………….. ………….. …….. January $30,000 ………….. February 545.000

Wages are paid In the month they are incurred.