Kimmel, Financial Accounting, 8e Help l s em Announcements CALCULATOR PRINTER VERSION Exercise 7-14 Your answer is partially correct. Try again Sandhill Company expects to have a cash balance of $61,350 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $86,350, February $161,350. 2. Payments to suppliers: January $55,350, February $90,350. 3. Wages: January $30,290, February $40,290. Wages are paid in the month they are incurred. 4. Administrative expenses: January $21,290, February $24,290. These costs include depreciation of $1,000 per month. All other costs are paid as incurred. 5. Selling expenses: January $15,290, February $20,290. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of short-term investments in January are expected to realize $12,290 in cash. Sandhill Company has a line of credit at a local bank that enables it to borrow up to $25,000. The company wants to maintain a minimum monthly cash balance of $35,350. Prepare a cash budget for January and February. SANDHILL COMPANY Cash Budget For the Two Months Ending February 28, 2017 February January MG 3882 JPG MG 3883, JPG MG 3884.JPG Shoe