E7-14 Rigley Company expects to have a cash balance of $46,000 on January 1, 2017. Prep These are the relevant monthly budget data for the first two months of 2017 1. Collections from customers: January $71,000 and February $146,000. 2. Payments to suppliers: January $40,000 and February $75,000. 3. Wages: January $30,000 and February $40,000. Wages are paid in the month they are (LO 4 4. Administrative expenses: January $21,000 and February $24,000. These costs include 5. Selling expenses: January $15,000 and February $20,000. These costs are exclusive of 6. Sales of short-term investments in January are expected to realize $12,000 in cash. incurred. depreciation of $1,000 per month. All other costs are paid as incurred. depreciation. They are paid as incurred. company wants to maintain a minimum monthly cash balance of $20 Rigley has a line of credit at a local bank that enables it to borrow up to $25,000. The ,000. Instructions Prepare a cash budget for January and February. "E7-15 During October, Bismark Light Company experiences the following transactions in establishing a petty cash fund. Oct. 1 A petty cash fund is established with a check for $150 issued to the petty cash 31 A check was written to reimburse the fund and increase he ind to s2C0. A custodian count of the petty cash fund disclosed the following items: Currency Coins Expenditure receipts (vouchers) $59.00 6.70 Supplies Telephone, Internet, and fax Postage Freight-out $26.10 16.40 39.70 6.80 Instructions Journalize the entries in October that pertain to the petty cash fund. "E7.16 Kael Company maintains a petty cash fund for small expenditures. These trans actions occurred during the month of August. Established the petty cash fund by writing a check payable to the petty cas custodian for $200 Aug.1 15 Replenished the petty cash fund by writing a check for $175. On this date, t fund consisted of $25 in cash and these petty cash receipts: freight-out $74.4 entertainment expense $36, postage expense $33.70, and miscellaneo expense $27.50 Increased the amount of the petty cash fund to $400 by writing a check for $2 Replenished the petty cash fund by writing a check for $283. On this da 16 31 fund consisted of $117 in cash and these petty cash receipts: posta expense $145, entertainment expense $90.60, and freight-out $46.40 Instructions