Nunez Company expects to have a cash balance of $45,000 on January 1, 2020. Relevant monthly budget data for the first two months of 2020 are as follows: 1 Collections from customers: January $99,000: February $160.000 2. Payments to suppliers: January $59,000: February $82,000 3. Direct labour: January $31,000; February $46.000. Wages are paid in the month they are incurred. 4. 5. Manufacturing overhead: January $27,000: 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 $13.000: February $19,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of marketable securities in January are expected to realize $10,000 in cash Nunez Company has a line of credit at a local bank. It can borrow up to $26.000. The company wants to keep a minimum monthly cash balance of $25,000. Prepare a cash budget for January and February NUNEZ COMPANY Cash Budget