Question 5 of 7 - / 1 View Policies Current Attempt in Progress Crane Company expects to have a cash balance of $47,600 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2017. 1. 2. 3. 4. Collections from customers: January $85,000, February $135,800 Payments to suppliers: January $47,400, February $50,100 Wages: January $34,100, February $40,100. Wages are paid in the month they are incurred. Administrative expenses: January $24,100, February $31,300. These costs include depreciation of $1,100 per month. All other costs are paid as incurred. Selling expenses: January $15,500, February $24,000. These costs are exclusive of depreciation. They are paid as incurred. Sales of short-term investments in January are expected to realize $14,500 in cash. Crane has a line of credit at a local bank that enables it to borrow up to $43,300. The company wants to maintain a minimum monthly cash balance of $25,500. 5. 6. Prepare a cash budget for January and February. (Do not leave any answer field blank. Enter for amounts.) Required HW -/1 E Question 5 of 7 CRANE COMPANY Cash Budget For the Months Ending January 30 and February 28, 2022 February January $ Beginning Cash Balance Add Collections from Customers V > Cequired HW Question 5 of 7 > -/1 E $ $ 3:17 PM ORI ED LMO 10/24/20 ere to search