Blue Spruce Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2017.

January February

Sales $360,700 $401,100

Purchases 121,500 131,400

Salaries 84,600 81,000

Administrative expenses 71,000 73,700

Selling expenses 79,000 86,900

All sales and purchases are on account. Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred except for administrative expenses, which include $1,200 of depreciation per month.

Other data.

1. Collections from customers: January $328,100;February $378,200.

2. Payments for purchases: January $111,400;

February $144,900.

3. Other receipts: January: collection of December 31, 2016, notes receivable $18,400; February: proceeds from sale of securities $5,500.

4. Other disbursements: February $13,000 cash dividend.

The companys cash balance on January 1, 2017, is expected to be $47,400. The company wants to maintain a minimum cash balance of $45,910.

Prepare a cash budget for January and February.