Martin Company expects to have a cash balance of $136,500 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows: . . Collections from customers: January $242,900, February $426,800. Payments for direct materials: January $153,100, February $232,000 Direct labor: January $91,200, February $134,700. Wages are paid in the month they are incured. Manufacturing overhead: January $63,300, February $75,400. These costs include depreciation of $5,000 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $44,700, February $58,900. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $36,700 in cash. Martin Company has a line of credit at the local bank that enables it to borrow up to $73,700. The company wants to maintain a minimum monthly cash balance of $60,400 $ 136,500 $ 347.300 Balance Receipts 242.900 426,800 om Customers 36,700 ties 279,600 426,800 416,100 774,100 Cash Disbursements als 153,100 232.000 91,200 134,700 58,300 70.400 Overhead 44.700 58.900 Iministrative Expenses ements 347.300 496.000 68.800 278.100 ncy of Available Cash over Cash Disbursements Borrowings Repayments including interest