NEXT CALCULATOR BACK Your awer is partially correct. Try again. Crane Company expects to have a cash balance of $27.600 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022. 1. Collections from customers: January $42.600. February $37,600. 2. Payments to suppliers: January $24,000. February $45,000. 3. Wages: January $18,000. February $24,000. Wages are paid in the month they are incurred. 4. Administrative expenses: January $12,600, February $14,400. These costs include depreciation of $600 per month. All other costs are paid as incurred. 5. Selling expenses January $9.000. February $12.000. These costs are exclusive of depreciation. They are paid as incurred. 6 Sales of short-term investments in January are expected to realize $7.200 in cash. Crane Company has a line of credit at a local bank that enables it to borrow up to $15,000. The company wants to maintain a minimum monthly cash balance of $12,000. Prepare a cash budget for January and February. (List items that increase cash balance first.) CRANE COMPANY Cash Budget For the The Months Ending February 28, 2022 January 27600 February 14400 Beginning cash balance | Add Cash recipes Collections from customers 42600 67600 Sale of short-term investments 7200 0 Total available cash 77400 102000 Collections from customers Less Payments to suppliers Payments to suppliers 24000 45000 Payments to suppliers 18000 24000 Administrative expenses 1200 13800 Payments to suppliers 63000 94800 Eccess ( dec) of available cash over disbursement 14400 7200 Branding Add Borrowing 4800 0 0 Ending cash balance 14400 12000 Click if you would like to show Work for this questioni Dean Shoe Werk SAMSUN Payments to suppliers ncing Wages Borrowings E Collections from customers Sale of short-term investments Total disbursements ss (de Financing Cash disbursements Total available cash Excess (deficiency) of available cash over disbursements Administrative expenses Payments to suppliers Selling expenses Repayments Beginning cash balance I ng Cas Ending cash balance Total receipts $ Cash receipts if you would like to snow work for this question: Uper STIOW Wor