Raihan Company has $$12,500$ in cash on hand on January $1$ and has collected the following budget data:

View the budget data.

Assume Raihan Company has cash payments for selling and administrative expenses including salaries of $$50,000$ plus commissions of $1\%$ of sales, all paid in the month of sale. The company requires a minimum cash balance of $$10,000.$ Prepare a cash budget for January and February. Will Raihan Company 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.$)$

$\backslash$table$[[$Caihan Company$],[$Two Months Ended January $31$ and February $28],[$Beginning cash balance$],[$Cash receipts$],[$Cash available$],[$Cash payments:$],[$Purchases of merchandise inventory$],[$Selling and administrative expenses$],[$Total cash payments$],[$Ending cash balance before financing$],[$Minimum cash balance desired$],[$Projected cash excess $($deficiency$)],[$Financing:$],[$Borrowing$],[$Principal repayments$],[$Total effects of financing$],[$Ending cash balance$]]$

Budget Data

$\backslash$table$[[,$January,February,$],[$Sales$,$$$,1,530,000,$$$65,000$

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