9 Flags Ski Resorts, Inc. expects to have a cash balance of $123,600 as they begin the new operating year on January 1, 2021.

These are the relevant monthly budget data for the first two months of 2021:

1. Collections from customers: January $191,000, February $208,000
2. . Payments to suppliers: January $41,700, February $62,900
3. . Wages: January $176,000, February $167,000. Wages are paid in the month they are incurred.
4. Administrative expenses: January $15,000, February $15,000. These costs include depreciation of $6,000 per month. All other costs are paid as incurred.
5. Selling expenses: January $22,900, February $33,700. These costs are exclusive depreciation. They are paid as incurred.
6. Sales of short-term investments in January are expected to realize $15,000 in cash.

9 Flags has a line of credit Citi Bank New York that enables it to borrow up to $300,000. The company wants to maintain a minimum monthly cash balance of $100,000.

Instructions Prepare a cash budget for January 2021 and February 2021 for the 9 Flags Ski Resorts.