Data Table January February $ 1,350,000 $ Sales Cash receipts from customers Cash payments for merchandise inventory 700,000 871,600 532,310 851,850 561,100 Print Done Sass Company has $10,000 in cash on hand on January 1 and has collected the following budget data (Click the icon to view the budget data.) Assume Sass has cash payments for selling and administrative expenses including salaries of $30,000 plus commissions of 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $9,500. Prepare a cash budget for January and February. Will Sass need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February. (Complete all input boxes. Enter a "O" for any zero balances.) Sass Company Cash Budget Two Months Ended January 31 and February 28 January February Beginning cash balance Cash receipts Cash available Cash payments Purchases of merchandise inventory Selling and administrative expenses Total cash payments Ending cash balance before financing Minimum cash balance desired Sass Company has $10,000 in cash on hand on January 1 and has collected the following budget data: (Click the icon to view the budget data.) Assume Sass has cash payments for selling and administrative expenses including salaries of $30,000 plus commissions of 1% of sales, all paid in the month of sale The company requires a minimum cash balance of $9,500. Prepare a cash budget for January and February. Will Sass need to borrow cash by the end of February? Casn payments: Purchases of merchandise inventory Selling and administrative expenses Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Principal repayments Total effects of financing Ending cash balance Will Sass need to borrow cash by the end of February? Sass Vneed to borrow cash by the end of February