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Yancey has $13,000 in cash on hand on January 1 and has collected the following buoget data (Click on the icon to view the budget

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Yancey has $13,000 in cash on hand on January 1 and has collected the following buoget data (Click on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yancey has cash payments for selling and edministrative expenses including salaries of $65,000 per month plus commissionis that are 2% of sales, all paid in the month of sale. The company requires a minimum cash balance of $5,000. Prepare a cash budget for January and February. Round to the nearest dollar, Will Yancey need to borrow cash by the end of February

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