A B E7-14 Prepare a cash budget for two months Rigley Company expects to have a cash balance of $46,000 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. Collection from customers: January $71,000 and February $146,000. 2. Payments to suppliers: January $40,000, February $75,000 3. Wages: January $30,000 and February $40 00. Wages are paid in the month they are incurred 4. Administrative expenses: January $21,000 and February $24,000. These costs 5. Selling expenses: January $15,000 and February $20,000. These costs are exclusive include depreciation of $1,000 per month. All other costs are paid as incurred. of depreciation. They are paid as incurred 6. Sales of short-term investments in January are expected to realize $12,000 in 3 cash. Rigley has a line of credit at a local bank that enables it to borrow up 4 to $25,000. The company want to maintain a minimum monthly cash balance 5 of $20,000. 7 Instructions 18 Prepare a cash budget for January and February. 19 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a"?" RIGLEY COMPANY Cash Budget For the Two Months Ending February 28, 2017 Januar Value Februa Value 26 Beginning cash balance 27 Add: Cash receipts Collectione from euetomare Valua Vali 7-8 E7-9 E7-14