Sandhill Company expects to have a cash balance of $69,000 on
January 1, 2020. These are the relevant monthly budget data for the
first two months of 2020.
1.
Collections from customers: January $106,500, February
$219,000.
2.
Payments to suppliers: January $60,000, February $112,500.
3.
Wages: January $45,000, February $60,000. Wages are paid in the
month they are incurred.
4.
Administrative expenses: January $31,500, February $36,000.
These costs include depreciation of $1,500 per month. All other
costs are paid as...