Question 8 (16 points) Grippers purchased new manufacturing equipment in January, paying $20,000 cash for the new machine. Grippers has $8,300 cash on hand on January 1st. The company requires a minimum cash balance of $7,500. Using the information from all previous parts of the question, complete the Cash Budget for January and February NOTE: enter negative numbers with a Remember to enter numeric amounts without a $ or, (a comma) If the answer is $20,000.00, then enter the number as 20000 Remember to round to nearest dollar and no decimal places. Required: Cash available in January is $ Cash payments in January are $ Ending cash balance on January 31st is $ AJ Will Grippers need to borrow cash at the end of January? A) (yes, no) > Cash payments in January are $ A/ Ending cash balance on January 31st is $ Will Grippers need to borrow cash at the end of January? A (yes, no) If so, how much will Grippers have to borrow? Grippers will have to borrow $ Ay in order to ensure they have $7,500 on hand at the end of January. Cash available for February is $ Cash payments for February are $ Ending cash balance on February 28th is $ A/ NOTE: IGNORE interest expense for the purposes of this question! Question 8 (16 points) Grippers purchased new manufacturing equipment in January, paying $20,000 cash for the new machine. Grippers has $8,300 cash on hand on January 1st. The company requires a minimum cash balance of $7,500. Using the information from all previous parts of the question, complete the Cash Budget for January and February NOTE: enter negative numbers with a Remember to enter numeric amounts without a $ or, (a comma) If the answer is $20,000.00, then enter the number as 20000 Remember to round to nearest dollar and no decimal places. Required: Cash available in January is $ Cash payments in January are $ Ending cash balance on January 31st is $ AJ Will Grippers need to borrow cash at the end of January? A) (yes, no) > Cash payments in January are $ A/ Ending cash balance on January 31st is $ Will Grippers need to borrow cash at the end of January? A (yes, no) If so, how much will Grippers have to borrow? Grippers will have to borrow $ Ay in order to ensure they have $7,500 on hand at the end of January. Cash available for February is $ Cash payments for February are $ Ending cash balance on February 28th is $ A/ NOTE: IGNORE interest expense for the purposes of this