need help

Martin Ltd. is trying to decide whether it is going to need to take a loan in coming January to buy a new microcomputer system. The microcomputer will cost $10,350. The president, Donald Martin, has collected the following information about her operations as at December 31: 1. Balance of selected ledger accounts: Cash $3,450 Accounts payable 6,900 2. Sales history and forecast (unit selling price, $12): October (actual) $51,750 November (actual) 39,100 December (actual) 51,750 January (forecast) 69,000All sales are on credit and are due 30 days afterthe sale. Cash payments for purchases are as follows: two-thirds in the month of purchase: one-third in the month after that. Martin Ltd. collecu 50% ofa month's sales one month after the sale and 45% two months after the sale; 5% are uncollectible. The company purchases inventoryr as required under terms of 2'10. net 30. It always takes the 2% discount, but records purchases at gross cost Inventory costs $6 per unit, gross. Other expe nses, all paid in cash as incurred, average about 30% of the sales dollar amount. Depreciation is part of these expenses and costs $3,450 per mo nth. Martin Ltd. keepsa minim um cash balance of $4.600. Prepare a cash budget for January, indicating whether Martin Led. will need a loan to finance its computer acquisition. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round answers to O decimal places, e.g. 5,275.) MARTIN LTD. Cash Budget For the Month Ended January 31 Collections from November Borrowing Repayment Collections from December Total cash receipts Excess (Deficiency) of cash available over cash disbursements Ending cash balance Merchandise purchases Total financing Purchase of Equipment Accounts payable-from December Operating costs v Financing Total available cash Purchase of Land Total disbursements Beginning cash balance Cash receipts Disbursements V VEPrepare a cash budget for January, indicating whether Martin Led. will need a loan to finance its computer acquisition. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round answers to O decimal places, e.g. 5,275.) MARTIN LTD. Cash Budget For the Month Ended January 31 Add Less v v VE $