Bass Company has $9,000 in cash on hand on January 1 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 $66,000 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? Cash Budget Two Months Ended January 31 and February 28 January Beginning cash balance 9000 851880 860880 i Data Table - X Cash receipts Cash available Cash payments: Purchases of merchandise inventory Selling and administrative expenses 561300 Total cash payments Ending cash balance before financing Sales Cash receipts from customers Cash payments for merchandise inventory January 1,360,000 $ 851,880 561,300 February 690,000 871,200 532,278 Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Print Done Principal repayments Total effects of financing Ending cash balance Ester ay urber-is the-scit fields and then click-Chsck Answer ------- ----?- 2 parts 2 remaining Clear All Check