Question 1 of 6 s > - / 1 Current Attempt in Progress Oriole Company expects to have a cash balance of $59,300 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. 2. 3. 4. Collections from customers: January $84,300, February $159,300. Payments to suppliers: January $53,300, February $88,300. Wages: January $31,770, February $41.770. Wages are paid in the month they are incurred. Administrative expenses: January $22,770, February $25,770. These costs include depreciation of $1,000 per month. All other costs are paid as incurred. Selling expenses: January $16,770, February $21,770. These costs are exclusive of depreciation. They are paid as incurred. Sales of short-term investments in January are expected to realize $13,770 in cash. Oriole Company has a line of credit at a local bank that enables it to borrow up to $25,000. The company wants to maintain a minimum monthly cash balance of $33,300 5. 6. Prepare a cash budget for January and February ORIOLE COMPANY Cash Budget January February $ $