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. 2. 3. Collections from customers: January $99,000; February $160,000 Payments to suppliers: January $59,000; February $82,000 Direct labour: January $31,000; February $46,000. Wages are paid in the month they are incurred. 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. 4. 5. 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 For the Two Months Ending February 29, 2020 Month Jan Feb $ $ V: Cash Budget For the Two Months Ending February 29, 2020 Month Jan Feb $ $ A A > NUNEZ COMPANY Cash Budget For the Two Months Ending February 29, 2020 Month Jan Feb Total $ $ $