Bank Statement Cash Payments Journal Checks Paid Checks Paid Date Check No. Amount Date Check No. Amount 5/4 354 10358 159 650 615 5/2 357 575 359 275 5/17 358 159 5/10 360 890 5/12 359 275 5/15 361 800 5/20 360 890 890 5/22 5/22 362 750 5/29 480 5/24 363 480 5/30 750 5/29 364 840 UULIL HILLMPLIFIUBI CS5 Pharoah Company expects to have a cash balance of $58,600 on January 1, 2017. These are the relevant month 1. Collections from customers: January $83,600. February $158,600. 2. Payments to suppliers: January $52,600. February $87,600. 3. Wages: January $30,830, February $40.830. Wages are paid in the month they are incurred. 4. Administrative expenses: January $21.830. February $24.830. These costs include depreciation of $1,000 p 5. Selling expenses: January $15,830, February $20,830. These costs are exclusive of depreciation. They are pa 6. Sales of short-term investments in January are expected to realize $12,830 in cash. Pharoah Company has a company wants to maintain a minimum monthly cash balance of $32,600. Prepare a cash budget for January and February