Russ Company has $10,000 in cash on hand on January 1 and has collected the following budget data: 5 Click the icon to view the budget data.) Assume Russ has cash payments for selling and administrative expenses including salaries of $48,000 plus commissions of 3% of sales, all paid in February? month of sale. The company requires a minimum cash balance of $9,000. Prepare a cash budget for January and February. Will Russ need to borrow cash by the end of 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.) Russ Company Cash Budget Two Months Ended January 31 and February 28 January Beginning cash balance Data Table Cash receipts Cash available January 1,300,000 $ February 680,000 Sales S 851,590 871,500 Cash receipts from customers Cash payments for merchandise inventory 561,000 532,393 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 Print Done Ending cash balance Enter any number in the edit fields and then click Check