Exercise 7-14 Oriole Company expects to have a cash balance of $59,300 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017 1. Collections from customers: January $84,300, February $159,300 2. Payments to suppliers: January $53,300, February $88,300 3. Wages: January $31,770, February $41,770. Wages are paid in the month they are incurred 4. Administrative expenses: January $22,770, February $25,770. These costs include depreciation of $1,000 per month. All other costs are paid as incurred paid as incurred line of credit at a local bank that enables it to borrow up to $25,000. The company wants to maintain a 5. Selling expenses: January $16,770, February $21,770. These costs are exclusive of depreciation. They are 6. Sales of short-term investments in January are expected to realize $13,770 in cash. Oriole Company has a minimum monthly cash balance of $33,300 Prepare a cash budget for January and February ORIOLE COMPANY Repayments Payments to suppliers Total receipts Beginning cash balance Sale of short-term investments Borrowings Administrative expenses Cash receipts Total available cash Selling expenses Total disbursements Wages Excess (deficiency) of available cash over disbursements Collections from customers Ending cash balance Cash disbursements Financing January February