Skysong Car Care Company expects to have a cash balance of $57,800 on January 1, 2025. These are the relevant monthly budget data for the first two months of 2025. There were no outstanding borrowings at the end of 2024. 1. 2. 3. 4. 5. 6. Collections from customers: January $84,900, February $131,100 Payments to suppliers: January $49,300, February $51,700 Wages: January $35,700, February $41.700. Wages are paid in the month they are incurred. Administrative expenses: January $25,700, February $34,700. These costs include depreciation of $2,500 per month. All other costs are paid as incurred. Selling expenses: January $17,600, February $20,300. These costs are exclusive of depreciation. They are paid as incurred. Sales of short-term investments in January are expected to realize $14,600 in cash. Skysong Car Care Company has a line of credit at a local bank that enables it to borrow up to $40,400. The company wants to maintain a minimum monthly cash balance of $26,000. Prepare a cash budget for January and February. SKYSONG CAR CARE COMPANY COMPANY Cash Budget For the Months Ending January 30 and February 28, 2025 January February