Exercise - Blossom Company expects to have a cash balance of $23,000 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022. 1. Collections from customers: January $35,500, February $73,000. 2. Payments to suppliers: January $20,000, February $37,500 3. Wages: January $15,000, February $20,000. Wages are paid in the month they are incurred 4. Administrative expenses: January $10,500, February $12,000. These costs include depreciation of $500 per month. All other costs are paid as incurred. 6. Sales of short-term investments in January are expected to realize $6,000 in cash, Blossom Company has a line of credit at a local bank that enables it to borrow up to $13,500, The company wants to maintain a minimum monthly cash balance of $10,000. Prepare a budget for January and February (List items that increase cash balance first.) BLOSSOM COMPANY Cash Budget January February