CARLA VISTA COMPANY Cash Budget January February Beginning cash balance 60650 Add : Cash receipts Collections from customers 85650 160650 Sale of short-term investments 12610 Click if you would like to Show Work for this question: Open Show Work Exercise 7-14 Carla Vista Company expects to have a cash balance of $60,650 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $85,650, February $160,650. 2. Payments to suppliers: January $54,650, February $89,650. 3. Wages: January $30,610, February $40,610. Wages are paid in the month they are incurred. 4. Administrative expenses: January $21,610, February $24,610. These costs include depreciation of $1,000 per month. All other costs are paid as incurred. 5. Selling expenses: January $15,610, February $20,610. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of short-term investments in January are expected to realize $12,610 in cash. Carla Vista 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 $34,650. Prepare a cash budget for January and February