Problem 7-8A Novak Corp. prepares monthly cash budgets. Here are relavant data from operating budgets for 2017 January February $361,900 Sales $400,400 Purchases 121.700 130.600 Salaries 84,800 81.900 Administrative expenses Seling expenses 70,500 73.900 80,000 87.300 All sales and purchases are on account. Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred except for administrative expenses, which indude $1.400 of depreciation per month. Other data 1. Collections from customers: January $331,000; February $379,000 2. Payments for purchases: January $102,800; February $144,300. 3. Other receipts: January: collection of December 31, 2016, notes receivable $17,500; February: proceeds from sale of securities $6,300. 4. Other disbursements: February $12,000 cash dividend The company's cash balance on January 1, 2017, is expected to be $47,000. The company wants to maintain a minimum cash balance of $55.630 Prepare a cash budget for January and February. (Do not leave any answer field blank Enter 0 for amounts.) NOVAK CORP, Cash Budget February January