Nunez Company expects to have a cash balance of $47,000 on January 1.2020. Relevant monthly budget data for the first two months of 2020 are as follows: 1. Collections from customers: January $101.000: February $158,000 2. Payments to suppliers: January $61,000: February $82,000 3. Direct labour: January $31.000; February $45.000. Wages are paid in the month they are incurred. 4. Manufacturing overhead: January $25.000; 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 $15,000; February $21,000. 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 $26,000. The company wants to keep a minimum monthly cash balance of $26,000. Prepare a cash budget for January and February. NUNEZ COMPANY Cash Budget For the Two Months Ending February 29, 2020 Month Jan Feb Total NUNEZ COMPANY Cash Budget For the Two Months Ending February 29, 2020 Month Total