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Yem has $11,500 in cash on hand on January 1 and has collected the following budget data: IIt (Cick on the icon to view the
Yem has $11,500 in cash on hand on January 1 and has collected the following budget data: IIt (Cick on the icon to view the budget data.) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred Additionally, assume Yem has cash payments for seling and adrninistrative oxpenses induding salaries of 550,000 per month plus commissions that are 1% of sales, all pald in the month of sale. The company requires a minimum cash balance of $20,000 Prepare a cash budget for January and February. Round to the nearest dollar. Wil Yem need to boerow 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 Entor a "o" for any zero balances Round all amounts entered into the cash budget to the nearest whole dellar) Data table
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