Mayfield Company expects to have a cash balance of $46,000 on January 1, 2010. These are the relevant monthly budget data for the first two months of 2010. 1. Collections from customers: January $88,307, February $164,307. 2. Payments to suppliers: January $58,307, February $93,307. 3. Wages: January $30,000, February $40,000. Wages are paid in the month they are incurred. 4. Administrative expenses: January $21,000, February $28,000. These costs include depreciation of $1,000 per month. All other costs are paid as incurred. 5. Selling expenses: January $15,417, February $20,417. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of short-term investments in January are expected to realize $12,000 in cash. Mayfield 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 $20,000. Complete the cash budget for January and February below. (List multiple items under receipts, disbursements and financing from largest to smallest amounts, e.g. 10, 5, 2.) MAYFIELD COMPANY Cash Budget For the Two Months Ending February 28, 2010 January February Beginning cash balance $ $ Add: Receipts RepaymentsCollections from customersWagesBorrowingsSelling expensesPayments to suppliersSale of short-term investmentsAdministrative expenses WagesBorrowingsRepaymentsPayments to suppliersSale of short-term investmentsCollections from customersAdministrative expensesSelling expenses Total receipts Total available cash Less: Disbursements WagesAdministrative expensesSale of short-term investmentsRepaymentsPayments to suppliersSelling expensesCollections from customersBorrowings WagesRepaymentsAdministrative expensesBorrowingsSelling expensesCollections from customersSale of short-term investmentsPayments to suppliers Sale of short-term investmentsRepaymentsPayments to suppliersAdministrative expensesCollections from customersSelling expensesWagesBorrowings BorrowingsWagesAdministrative expensesPayments to suppliersCollections from customersSale of short-term investmentsRepaymentsSelling expenses Total disbursements Excess (deficiency) of available cash over disbursements Financing RepaymentsWagesSelling expensesPayments to suppliersCollections from customersBorrowingsSale of short-term investmentsAdministrative expenses BorrowingsSale of short-term investmentsCollections from customersSelling expensesPayments to suppliersRepaymentsWagesAdministrative expenses Ending cash balance $ $