CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 7-14 Cullumber Company expects to have a cash balance of $58,650 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017 1. Collections from customers: January $83,650, February $158,650. 2. Payments to suppliers: January $52,650. February 587,650 3. Wages: January $31,860, February $41,860, Wages are paid in the month they are incurred 4. Administrative expenses: January $22,850, February $25,860. These costs include depreciation of $1,000 per month. All other costs are paid as incurred. 5. Seling expenses: January $16,850, February $21,860. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of short-term investments in January are expected to realize $13,860 in cash, lumber Company has a line of credit at a local bank that enables it to borrow up to $25,000. The company wants to maintain a minimum monthly cash balance of $32,650. Prepare a cash budget for January and February CULLUMBER COMPANY Cash Budget I a. I 2000-2019 W AS . All Reserved. A Division of Ihn Wie Son