Nadia Company expects to have a cash balance of $45,100 on January 1, 2020. Nadia has budgeted the following for the first two months of the year 2020: 1. 2. 3. 4. 5. 6. Collections from customers: January $90,100; February $110,700. Payments to suppliers: January $39,700; February $50,000. Direct labour: January $30,300; February $35,400. Wages are paid in the month they are incurred. Manufacturing overhead: January $24,800; February $30,100. Overhead costs are paid as incurred. Selling and administrative expenses: January $15,900; February $22,200. These costs do not include depreciation and they are paid as incurred. Sales of investments in January are expected to realize $9,900 in cash. Nadia Company wants to keep a minimum monthly cash balance of $20,000. Prepare a cash budget for January and February. NADIA COMPANY Cash Budget For 2020 January February