Nunez Company expects to have a cash balance of $44.000 on January 1, 2020. Relevant monthly budget data for the first two months of 2020 are as follows: Collections from customers. January $98.000; February $160.000 2 Payments to suppliers: January $60.000; February $80,000 Direct labour January $30,000. February $43.000. Wages are paid in the month they are incurred. Manufacturine overhead: January $26.000; February $30,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $15,000; February $20.000 These costs are exclusive of depreciation. They are paid as incurred Sales of marketable securities in January are expected to realize $9.000 in cash, 3 4 5. 6 Nunez Company has a line of credit at a local bank. It can borrow up to 524.000 The company wants to keep a minimum monthly cash balance of $21.000 Prepare a cash budget for January and February NUNEZ COMPANY Cash Budget For the Two Months Ending February 29, 2020 Month Jan Feb 5 A Prepare a cash budget for January and February NUNEZ COMPANY Cash Budget For the Two Months Ending February 29,2020 Month Jan Fe 3