Nina's Travel trades in cash as well as credit. Actual and estimated sales are provided below....

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Nina's Travel trades in cash as well as credit. Actual and estimated sales are provided below. November December January February Actual Actual Estimate Estimate Cash Sales 20,000 30,000 25,000 15,000 Credit Sales 10,000 15,000 12,500 7,500 Additional Information For credit sales, the business collects 75% one month after the sale and 25% two months after the sale. Every month, the business pays wages of $2,500 and other operating expenses of $1,500. In January, the business will pay annual insurance of $1,000 and half-yearly rent of $6,000. The closing cash balance for December is $12,000. The business desires to maintain a minimum cash balance of $10,000. Nina's Travel trades in cash as well as credit. Actual and estimated sales are provided below. November December January February Actual Actual Estimate Estimate Cash Sales 20,000 30,000 25,000 15,000 Credit Sales 10,000 15,000 12,500 7,500 Additional Information For credit sales, the business collects 75% one month after the sale and 25% two months after the sale. Every month, the business pays wages of $2,500 and other operating expenses of $1,500. In January, the business will pay annual insurance of $1,000 and half-yearly rent of $6,000. The closing cash balance for December is $12,000. The business desires to maintain a minimum cash balance of $10,000.