1. Collections from customers: January $163,300, February $335,800. 2. Payments to suppliers: January $92,000, February $172,500. 3. Wages: January $69,000, February $92,000. Wages are paid in the month they are incurred. 4. Administrative expenses: January $48,300, February $55,200. These costs include depreciation of $2,300 per month. All other costs are paid as incurred. 5. Selling expenses: January $34,500, February $46,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of short-term investments in January are expected realize $27,600 in cash. Sheridan Company has a line of credit at a local bank that enables it to borrow up to $57,500. The company wants to maintain a minimum monthly cash balance of $46,000. Prepare a cash budget for January and February. (List items that increase cash balance first.) SHERIDAN COMPANY Cash Budget V January February Beginning cash balance $ $ Add Cash receipts Collections from customers Sale of short-term investments Total receipts Total available cash Less Cash disbursements Payments to suppliers Wages Administrative expenses Selling expenses Total disbursements Excess (deficiency) of available cash over disbursements Financing Borrowings Repayments Ending cash balance