Sass Company has $11,000 in cash on hand on January 1 and has collected the following budget data (pictured above). Assume Sass has cash payments for selling and administrative expenses including salaries of $50,000 plus commissions of 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $9,000. Prepare a cash budget for January and February. Will Sass need to borrow cash by the end of February? Question content area bottom

Part 1 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.)

- X Data table $ Sales Cash receipts from customers Cash payments for merchandise inventory January 1,330,000 $ 851,650 561,500 February 730,000 871,800 532,552 Print Done