Bass Company has $9,000 cash on hand on January and has collected the following budget data: (Click the icon to view the budget data.) Assume Bass has cash payments for selling and administrative expenses including salaries of $44,000 plus commissions of 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $8,500. Prepare a cash budget for January and February. Will Bass need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February. (Complete all input fields. Enter a "0" for any zero balances.) Bass Company Cash Budget Two Months Ended January 31 and February 28 Data table Beginning cash balance Cash receipts Cash available Cash payments: Purchases of merchandise inventory Selling and administrative expenses Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing January January February Sales Cash receipts from customers 1,400,000 $ 851,610 670,000 871,100 Cash payments for merchandise inventory 561,100 532,578 Print Done