Wilson Company has $11,000 in cash on hand on January 1 and has collected the following budget data:

Assume Wilson has cash payments for selling and administrative expenses including salaries of $55,000 plus commissions of 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $8,500. Prepare a cash budget for January and February. Will Wilson need to borrow cash by the end of February?

begin by preparing the cash budget for January, then prepare the cash budget for February. Complete all input fields. Enter a "O" for any zero balances.)

Won Company$11,60 in cash on hand on January 1 and has colected the following budget data de the conto the budget data) Who has cash paymerta ringan dative etuding sates of $58,000 ha comer of 2% of a pad in the month of sale. The company requires a minimum cash balance of $8.500 Prepare a cash before and Fwy Wil Weed to borrow ash by the end of February Begin by preparing the cash budget for January, then prepare the cash budget for February. (C Wilson Company Cash Budget Two Months Ended January 31 and February 28 January Beginning cash balance Cash receipts Cash available 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 Ending cash balance Data table - - X Sales January 1,400,000 $ 851,420 February 710,000 $ Cash receipts from customers Cash payments for merchandise inventory 871,800 532,310 561,100 Print Done