Question 2 Novak Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2022. Sales Purchases Salaries Administrative expenses Selling expenses January $361,900 121,700 84,800 70,500 80,000 February $400,400 130,600 81,900 73,900 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. Administrative expenses include $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, 2021, 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, 2022, 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 o for amounts.) NOVAK CORP. Cash Budget For the Two Months Ending February 28, 2022 January February Beginning cash balance Add Cash receipts Collections from customers Notes receivable Sale of securities Total receipts Total available cash Less Cash disbursements Purchases Salaries Administrative expenses Selling expenses Dividends