Bridgeport Company prepares monthly cash budgets. Relevant data from operating budgets for 2023 are as follows: Sales Direct materials purchases Direct labour Manufacturing overhead Selling and administrative expenses January February $350,000 $401,000 121,000 111,000 85,000 113,000 60.000 76,000 74,000 79,000 All sales are on account. Bridgeport expects collections to be 50% in the month of sale, 40% in the first month following the sale, and 10% in the second month following the sale. It pays 30% of direct materials purchases in cash in the month of purchase and the balance due in the month following the purchase. Other data are as follows: 1 Credit sales: November 2022, $199,000; December 2022. $278,000 2. Purchases of direct materials: December 2022, $90,000 3. Other receipts: January-collection of December 31, 2022, notes receivable $4,000; February-proceeds from sale of securities $6,000 4. Other disbursements: February-payment of $20,000 for land The company expects its cash balance on January 1, 2023, to be $49,000. It wants to maintain a minimum cash balance of $39,000