Question Help Hess Company has $10,500 in cash on hand on January 1 and has collected the following budget data: (Click the icon to view the budget data.) Assume Hess has cash payments for selling and administrative expenses including salaries of $48,000 plus commissions of 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $8,500. Prepare a cash budget for January and February. Will Hess need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February. (Complete all input fields. Enter a "0" for any zero balances.) Hess Company Cash Budget i Data. Table X Two Months Ended January 31 and February 28 January Beginning cash balance January February Cash receipts Sales $ 1,300,000 $ 720,000 Cash available Cash receipts from customers 851,530 871,200 Cash payments: Cash payments for merchandise inventory 561,500 532,416 Purchases of merchandise inventory Selling and administrative expenses Print Done Total cash payments Ending cash balance before financing Enter any number in the edit fields and then click Check Answer. ? 2 parts remaining Clear All Check Answer JUL 5 tv W