Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows.

		January		February
Sales		$414,000		$460,000
Direct materials purchases		138,000		143,750
Direct labor		103,500		115,000
Manufacturing overhead		80,500		86,250
Selling and administrative expenses		90,850		97,750

All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases are paid in cash in the month of purchase, and the balance due is paid in the month following the purchase. All other items above are paid in the month incurred except for selling and administrative expenses that include $1,150 of depreciation per month. Other data:

1.		Credit sales: November 2019, $287,500; December 2019, $368,000.
2.		Purchases of direct materials: December 2019, $115,000.
3.		Other receipts: JanuaryCollection of December 31, 2019, notes receivable $17,250;
		FebruaryProceeds from sale of securities $6,900.
4.		Other disbursements: FebruaryPayment of $6,900 cash dividend.

The companys cash balance on January 1, 2020, is expected to be $69,000. The company wants to maintain a minimum cash balance of $57,500.

Prepare a cash budget for January and February in columnar form. COLTER COMPANY Cash Budget For the Quarter Ending February 28, 2020 January February ance $ 69,000 $ 54,060 ceipts ustomers 374,900 427,800 17,250 0 0 6.900 392,150 434700 461,150 488,760 sbursements 128,800 i 141450 i > 103,500 i 115000 erhead 80,500 86250 strative Expenses 90.850 97750 0 -6900 its 403,650 433550 of Available Cash Over Cash Disbursements 57,500 55210 $ $ 57,500 $ 57700