20. E10.27 (104) Nunez Company expects to have a cash balance of $45,000 on January 1, 2020. Relevant monthly budget data for the first two months of 2020 are as follows: Prepare a cash budget for two months 1. Collections from customers, January 5100,000. February S160,000 2. Payments to supplers January $60.000. February $80,000 3. Direct labour: January $30,000, February $45,000. Wages are paid in the month they are incurred 4 Manufacturing overhead January 526,000. February $31,000. These costs include depreciation of $1,000 per month Al other overhead costs are paid as incurred. 5. Seing and administrative expenses: January 515,000. February $20.000. These costs are exclusive of depreciation They are paid as incurred. 6. Sales of marketable securities n January are expected to realize $10,000 in cash Nunez Company has a line of credit at a local bank t can borrow up to $25.000 The company wants to keep a minimum monthly cash balance of 525.000 Instructions Prepare a cash budget for January and February