Nunez Company expects to have a cash balance of $46,000 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 $159,000 2. Payments to suppliers: January $60,000; February $80,000 3. Direct labour: January $32,000; February $44,000. Wages are paid in the month they are incurred. 4. Manufacturing overhead: January $26,000; February $30,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. 5. Selling and administrative expenses: January $15,000; 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 Prepare a cash budget for January and February. NUNEZ COMPANY Cash Budget For the Two Months Ending February 29, 2020 Month Jan Feb $ $ : 1 ( > > > . > : $ S Jan Feb Total $ 46000 $ 24000 $ 46000 98000 159000 257000 9000 9000 107000 159000 266000 153000 183000 275000 60000 i 80000 i 140000 i 32000 i 44000 i 76000 i 25000 i 27000 52000 60000 i 80000 i 140000 i 32000 i 44000 i 76000 i 25000 27000 52000 15000 i 20000 i 35000 i 132000 171000 303000 rsements 24000 12000 28000 : 12000 4000 ODCE DOC 12000 4000 24000 $ 24000 $ 24000 15000 i 20000 i 35000 i 132000 i 171000 303000 rsements 24000 12000 28000 III 12000 4000 12000 4000 $ 24000 $ 24000 $ 24000