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Yes Company has $9,000 in cash on hand on January 1 and has collected the...

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Accounting

Yes Company has $9,000 in cash on hand on January 1 and has collected the following budget data:
(Click the icon to view the budget data.)
Assume Yes has cash payments for selling and administrative expenses including salaries of $66,000 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 Yes need to borrow cash by the end of Februarv?
Yes Company
Cash Budget
Two Months Ended January 31 and February 28
\table[[Beginning cash balance,,],[Cash receipts,January,],[Cash available,,],[Cash payments:,,],[Purchases of merchandise inventory,,],[Selling and administrative expenses,,]]
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