Grippers purchased new manufacturing equipment in January, paying $20,000 cash for the new machine.

Grippers has $8,300 cash on hand on January 1^st. The company requires a minimum cash balance of $7,500.

Using the information from all previous parts of the question, complete the Cash Budget for January and February.

NOTE: enter negative numbers with a '-'

Remember to enter numeric amounts without a $ or , (a comma) If the answer is $20,000.00, then enter the number as 20000 Remember to round to nearest dollar and no decimal places.

Required:

Cash available in January is $ ______.

Cash payments in January are $ _______

Ending cash balance on January 31st is $ _______

Will Grippers need to borrow cash at the end of January? _______ (yes, no)

If so, how much will Grippers have to borrow?

Grippers will have to borrow $ ______ in order to ensure they have $7,500 on hand at the end of January.

Cash available for February is $ _______

Cash payments for February are $ ________

Ending cash balance on February 28th is $ _________

NOTE: IGNORE interest expense for the purposes of this question!