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Coronado Company expects to have a cash balance of $44,000 on January 1,2022 . Relevant monthly budget data for the first two months of 2022 are as follows: 1. Collections from customers: January $100,000; February $159,000 2. Payments to suppliers: January $61,000; February $79,000 3. Direct labour: January $30,000; February $43,000. Wages are paid in the month they are incurred. 4. Manufacturing overhead: January $26,000; February $31,000. These costs include depreciation of $1,000 per month. All other overhead costs are paid as incurred. 5. Selling and administrative expenses: January $15,000; February $21,000. These costs are exclusive of depreciation. They are paid as incurred. 6. Sales of marketable securities in January are expected to realize $9,000 in cash. Coronado Company has a line of credit at a local bank. It can borrow up to $22,000. The company wants to keep a minimum monthly cash balance of $22,000. Prepare a cash budget for January and February. Prepare a cash budget for January and February. Prepare a cash budget for lanuary and February. Coronado Company has a line of credit at a local bank. It can borrow up to $22,000. The company wants to keep a minimum monthly cash balance of $22,000 Prepare a cash budget for January and February. Attempts: 0 of 4 used

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