Company has $ 13500 in cash on hand on January 1 and has collected the following budget data: Assume Hess has cash payments for selling and administrative expenses including salaries of $ 55000 plus commissions of 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $ 11000. Prepare a cash budget for January and February. Will Hess need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February.

Data Table 1 JanuaryF $ 1,350,000 S February Sales Cash receipts from customers Cash payments for merchandise inventory 640,000 871,900 532,552 851,420 562,000 Print Done Begin by preparing the cash budget for January, then prepare the cash budg Hess Company Cash Budget Two Months Ended January 31 and February 28 January Beginning cash balance Cash receipts Cash available Cash payments Purchases of merchandise inventory Selling and administrative expenses Total cash payments Ending cash balance before fiOnancing Minimum cash balance desired Projected cash excess (deDficiency) Financing Borrowing Principal repayments Total effects of Dfinancing Ending cash balance Enter any number in the edit fields and then click Check Answer. parts remaining