View Policies Current Attempt in Progress Nunez Company expects to have a cash balance of $45,000 on January 1, 2020. Relevant monthly budget data for the first two months of 2020 are as follows: 1. Collections from customers: January $101,000; February $160,000 2. Payments to suppliers: January $60,000; February $78,000 3. Direct labour: January $31,000; February $43,000. Wages are paid in the month they are incurred. 4. 5. Manufacturing overhead: January $27,000; February $30,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. Selling and administrative expenses: January $16,000: February $19,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of marketable securities in January are expected to realize $10,000 in cash. Nunez Company has a line of credit at a local bank. It can borrow up to $24,000. The company wants to keep a minimum monthly cash balance of $23,000