Problem 4 George Company expects to have a cash balance of $52,000 on January 1, 2022. The company has begun a cash budget using information from their operating budgets as populated already The company plans to sell land in January for $16,000 cash. The company expects to pay interest of $100 in February. George Company automatically borrows cash as needed to maintain a minimum monthly cash balance of $90,000, and repays in the first month that the full repayment is available. Complete the cash budget for January and February. Blanks may remain. You judge what is needed for a complete cash budget. George Company Cash Budget For the year ended December 31, 2022 Month January February Beginning cash balance Add: Receipts Collections from customers 98,000 160,000 Total Receipts Total Available Cash Less: Disbursements Direct Materials Direct Labor Manufacturing Overhead Selling & Administrative Expense Total Disbursements Excess (deficiency) of available cash over cash disbursements 40,000 24,000 16,800 12,000 92,800 70,000 32,000 21,800 18,000 141,800