Exercise 7-14 balance of $61,650 on January 1, 2017. These are the relevant monthly budget data for the frst two Culumber Company expects to have a cash months of 2017 L Colections from customers: lanuary $86,650, February % 161,650. 2. Payments to supplers: January $55,650, February $90,650. 3. Wages: January $30,490, February $40,490. Wages are pad in the month they are incurred. 4 Administrative expenses: January $21,490, February $24,490. These costs incude depreciation of $1,000 per month. All other costs are paid Es "curred. 5. Seling expenses: lanuary $15,490, February $20,490. These costs are excusive of deprecation. They are paid as incurred. 6. Sales of short-term investments in January are expected to realize $12,490 in cash, Culumber Company has a ine of credit at a tocal bank that enabkes it to borrow up to $25,000, The company wants to maintain a minimum monthly cash balance of $35,6s0 Prepare a cash budget for January and February CULLUMBER COMPANY Cash Budget February 0 ENTER