Nunez Company expects to have a cash balance of $44,000on January 1, 2020. Relevant monthly budget data for the first two months of 2020 are as follows:

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: 1. Collections from customers: January $98,000; February $158,000 2. Payments to suppliers: January $61,000; February $78,000 3. Direct labour: January $29,000; February $44,000. Wages are paid in the month they are incurred. . Manufacturing overhead: January $27,000; February $32,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. 5. Selling and administrative expenses: January $14,000; February $20,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of marketable securities in January are expected to realize $9,000 in cash. Nunez Company has a line of credit at a local bank. It can borrow up to $24,000. 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 Total $ $ $ $ $