Less Disbursements Direct Materials 119840 131610 Direct Labor 96300 107000 Manufacturing Overhead 83460 89880 > Selling and Administrative Expenses 83,460 89,880 > X Cash Dividend 0 644,200 > x Total Disbursements 374500 1052940 X Excess (Deficiency) of Available Cash Over Cash Disbursements 54570 -593910 > Financing X Add Borrowings 647410 DO > Less Repayments 0 0 54570 53500 Ending Cash Balance Your answer is partially correct. Try again. Prepare a cash budget for January and February in columnar form. COLTER COMPANY Cash Budget For the Two Months Ending February 28, 2020 v January February Beginning Cash Balance 64,200 53,500 Add Receipts Collections from Customers 348820 398030 Notes Receivable 16050 0 > > Sale of Securities 0 6420 Total Receipts 364870 404460 Total Available Cash 429070 459030 Less Disbursements Direct Materials 119840 131610 Your answer is correct Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February Expected Collections from Customers January February November S3500 December 102720 68480 January 192600 115560 February 0 214000 Total collections 348820 398040 Expected Payments for Direct Materials January February December 42800 0 January 77040 51360 February 80250 1199 125516