ad) PRENTER VERSION BACK RESOUR NEXT hapter 24 ) (Video) Company prepares mo Relevant data from operating budgets for 2020 are as follows. 4-03A a-b anuaryFebruary $392,400 $436,000 Sales Direct materials purchases Direct labor Manufacturing overhead n) (ideo) 4-04A a- 130,800 136,250 98,100 109,000 76,300 86,110 81,750 Selling and administrative expenses ore sults by Study All sales are on account. Collections are expected to be so% the nth of sale, and 20% in the second month following the sales-oent (: ofdre in the month of purchase, and the balance due is paid in the mont n the month incurred except for selling and administrative in the first month following the ,terials purchases are padna the pu All other items above are paid sthat in de per monch. Other data: 1. Credit sales: November 2019, $272,500; December 2019, $348,800 2 Purchases of direct materials: December 2019, $109,000. 3. Other receipts: January-Collection of December 31, 2019, notes receivable $16,350: February-Proceeds from sale of securities $6,540 Other disbursements: February-Payment of $6,540 cash dividend. 4. The company's cash balance on January 1, 2020, is expected to be $65,400. The company wants to main. cash balance of $54,500. Your answer is correct. customers and (2) expected payments for direct materials purchases Prepare schedules for (1) expected for January and February February 54, 69 196 January February Expected Payments for Direct Materials January February Attempts: 1 of 15 used (b) Prepare a cash budget for January and February in columnar form COLTER COMPANY Cash Budget January February Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Poly set by your instructor Attempts:0 of 15 u