Exercise 7-14 Blossom Company expects to have a cash balance of $57,600 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017 1. Collections from customers: January $82,600, February $157,600 2. Payments to suppliers: January $51,600, February $86,600. 3. Wages: January $31,580, February $41,580. Wages are paid in the month they are incurred 4. Administrative expenses: January $22,580, February $25,580. These costs include depreciation of $1,000 per month. All other costs are paid as incurred 5. Selling expenses: January $16,580, February $21,580. These costs are exclusive of depreciation. They are paid as incurred 6. Sales of short-term investments in January are expected to realize $13,580 in cash.Blossom Company has a line of credit at a local bank that enables it to borrow up to $25,0 The company wants to maintain a minimum monthly cash balance of $31,600 Prepare a cash budget for January and February BLOSSON COMPANY Cash Budget January 442 PM BLOSSOM COMPANY Cash Budget January February % * o search