Save Answer Ottawa Publishing has a line of credit with their bank and must keep a $10,000 minimum balance each month. There is no outstanding loan at the beginning of January. Loans can be borrowed and repaid in any amount. The cash balance on January 1 is expected to be $13,000 Sales were $35,000 in December, and are budgeted to be $11,000 in January and $25,000 in February. All sales are on account and are collected 50% in the month of sale and 50% in the following month. Purchases are budgeted to be $27,000 in January and $11,600 in February. Purchases are paid in full in the month of purchase. All other expenses are listed below, and are all paid in cash in the month incurred: Salaries $700 per month Commissions 10% of sales per month $500 per month Advertising $200 per month Rent A. Prepare a cash budget for January for Ottawa Publishing. What is the loan the amount for January? $3,500 b $3,000 $900 C $2,500