J a. Prepare a cash budget for December, January, and February. Use a minus sign to enter negative values for net cash flows, cumulative NCF values, and loans needed, if any. If the answer is zero, enter "0". Do not round intermediate calculations. Round your answers to the nearest dollar. Collections and Purchases: December January February Sales $ $ $ Purchases $ $ $ Payments for purchases $ $ $ Salaries $ $ $ Rent $ $ $ Taxes $ Total payments $ $ $ Cash at start of forecast $ Net cash flow $ $ $ Cumulative NCF $ $ $ Target cash balance $ $ $ Surplus cash or loans S $ $ needed b. Suppose Koehl starts selling on a credit basis on December 1, giving customers 30 days to pay. All customers accept these terms, and all other facts in the problem are unchanged. What would the company's loan requirements be at the end of December in this case? (Hint: The calculations required to answer this question are minimal.) Use a minus sign to enter a negative value for loan requirements. Do not round intermediate calculations. Round your answer to the nearest dollar. Check My Work Reset Problem Back Excel Online Student Work X + Z about:blank C template - Saved Search for tools, help, and more (Alt + Q) Next File Home Insert Share Page Layout Formulas Data Arial 10 B A V ab B22 fx A B C D E F G H J K L 3 Monthly salary $4,800 4 Monthly rent $2,900 5 December tax payment $11,000 6 Current cash on hand, December 1 $700 7 Target cash balance $6,500 8 November purchases $160,000 9 December sales $130,000 10 December purchases 11 January sales 12 January purchases 13 February sales 14 February purchases 15 16 Cash Budget December January February $45,000 $42,000 $45,000 $56,000 $45,000 17 Sales (Collections) 18 19 Purchases 20 21 Payments: 22 For purchases 23 Salary 24 Rent 25 Taxes 26 Total payments 27 28 Cash at start of forecast $130,000 $42,000 $56,000 $45,000 $45,000 $45,000 #N/A Formulas #N/A #N/A $4,800 $4,800 $4,800 $2,900 $2,900 $2,900 $11,000 #N/A #N/A #N/A $700 #N/A #N/A #N/A #N/A F #N/A #N/A $6,500 $6,500 $6,500 #N/A #N/A #N/A 29 Net cash flow 30 Cumulative NCF 31 Target cash balance 32 Surplus cash or loans needed 33 34 Suppose firm sells on credit 35 Number of days customers have to pay 30 36 Company loan requirements on December 31 #N/A > A A +