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P9-61A (similar to) Blan's Restarant Supply s preparing ts cash budgets for the fins two months of the upcoming year Here is the ntomation aboud the company's upcoming cash recespts and cash dsburoment iCick the icon to viow the infomation) 2. Prepare a combined casth budget no tinaning activity takes place, whait is the budgeted cash balance on February 28 Drian's Retaurant Sopply Cash Collecbons dget For the Months Ended January 31 and February 28 More In Sales are 65% cath rd 35% aedt Credt sales we collected WN inthe month of tale rerard" in the month ate sale Adual saesin Decenmber wore $54.000 chedus of budgetod sales for the lw a. 40 300 Cash sales Collecion on cedit sales Total cash collechions Budgeted Sales Revenue 62,000 $72.000 ebruary b. Acthual purchases ofl direct materals in December were $25,500 The companys purchases of dired mater als n January are budgeted to be S24 000 and S26.000 n February Al pud ases are the month of purchase and 75% the folowing month Salaries and sales commssions ane also paid haif in the month earned and halt the nexd month Actual salaries were $10,000 in December Budgeted salanes in January are $11,000 and February butgeted alanes a'e $12.500 Sales commesons each month are 10% of that moths sales d. Rent expense is $3 100 per month e. Depreciation is $2 100 per month t. Estmated income tax payments are made at the end of Jlanuary The estmated tax payment s projected to g. The cash balance at the end of the prior year was $18,000 er any number in the edt flelds and then dlick Check Answer be $11,500 arts