Assignment 7-17 1 Question 1 of 1 > - / 100 "current attemptin Progress Crane Company expects to have a cash balance of $133,400 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022 Collections from customers January $205,900, February $423,400, 2. Payments to suppliers: January $116,000. February $217.500. Wages: January $87,000, February $116,000. Wages are paid in the month they are incurred. Administrative expenses: January $60,900, February $69,600. These costs include depreciation of $2,900 per month. All other costs are paid as incurred. 5. Selling expenses: January $43,500, February 558,000. These costs are exclusive of depreciation. They are paid as incurred. Sales of short-term investments in January are expected to realize $34 BOO in cash. Crane Company has a line of credit at a local bank that enables it to borrow up to $72.500. The company wants to maintain a minimum monthly cash balance of 3. 4 6. $58,000 Prepare a cash budget for January and February. (List items that increase cash balance first) Question 1 of 1 -/100 Cash Budget January February > sts 5