Mass Company has $12.500 in cash on hand on January 1 and has collected the following budget daa (Click the icen to view the budget data) Assume Mass has cash payments for selling and adminio ative expenses including salaries of $64.000 plus commissions of 3% of sales, all pait in the month of sale The company requires a minimum cash balance of $11,000 Prepare a cinh budget for January and February Will Mass need to bonow cash by the end of February Cash Budget January February $ 130 0.30 461430 8/1000 561,400 532562 Two Months Ended January 31 and February 28 Beginning cash balance Cash receipts Cash valut Data table January February 12500 061420 803020 Sales Cash receipts from customers Cash payments Cash payments for merchandise inventory Furtheses of merchandos intertoey 661430 Seling and adminative expenses 10480 666230 Total cash payments Print Done 157690 Ending cash bilanca befare financing Asume Mass has cash payments for selling and administrative expenses including salaries of $64,000 pln commissions of 3% of sales, all paid in the month of sale The company requires a minimum cash balance of $11.000 Prepare a cash budget for January and February. WB Mass need to borrow cash by the end of February? Ending cash balance before financing Mrimam cash balance desired Projected cash excess (deficiency Financing Boreywing Principal repayments Total facts of financing 197050 Data table January February Sales 1354000 700,000 Cash receipts from customers Cash payments for merchandise inventory 871.000 561409 532552 197650 Ending cash balance Will Mass need to bonee cash by the end of February? Mass need be burrow canh by the end of February Print Done Time Remaining 1 240 Next