Cullumber Company expects to have a cash balance of 532.200 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022. 1. Collections from customers: January $49,700. February $102.200 2. Payments to suppliers: January $28.000. February $52.500 3. Wapes: January 521.000 February 528,000. Wages are paid in the month they are incurred. 4 Administrative expenses: January $14.700, February $16.800. These costs include depreciation of S700 per month. All other costs are paid as incurred. 5. Selling expenses: January $10.500. February 514.000. These costs are exclusive of depreciation. They are paid as incurred. 6 Sales of short-term investments in January are expected to realize $8.400 in cash Cullumber Company has a line of credit at a local bank that enables it to borrow up to $17500. The company wants to maintain a minimum monthly cash balance of $14.000 Prepare a cash budget for January and February (stems that increase cash balance first) CULLUMBER COMPANY Cash Budget For the Two Months Ending February 28, 2022 January February 39200 $ 16800 Beginning cash balance Cash receipts 49700 Collections from customers 102200 Prepare a cash budget for January and February. (List items that increase cash balance first.) CULLUMBER COMPANY Cash Budget For the Two Months Ending February 28, 2022 January February Beginning cash balance 32200 $ 16800 Add Cash receipts Collections from customers 49700 102200 Sale of short-term investments 8400 Total receipts 58100 102200 Total available cash 90300 119000 Less Payments to suppliers Wages Administrative expenses Selling expenses > : $ $