Cash sales Credit sales (59% collected in month of sale) Selling and administrative costs (including depreciation) Depreciation expense Merchandise Inventory, January 1 Merchandise Inventory, January 31 Beginning cash balance Minimum cash balance required Cost of goods sold is 55% of Cooper's selling price All purchases are paid in cash Selling and administrative costs are paid in month of purchase $25,500 349,000 48,460 4.990 19,370 21,730 2,920 2,700 Prepare a cash budget for January (Enter cash needed using either a negative sign preceding the number e.g. -4,527 or parentheses e.g. (4,527).) $