Below are the forecasted receipts and cash payments from Columbia Company for the first four months...

 

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Below are the forecasted receipts and cash payments from Columbia Company for the first four months of the year: January Budgeted Cash Collections Budgeted Cash Payments: Operating Expenses Dividends Equipment Purchases Total Budgeted Cash Payments $511,000 February $945,000 March $159,000 April $964,000 $328,000 $927,000 $343,000 $453,000 $336,000 $746,000 $328,000 $1,263,000 $1,089,000 $453,000 On January 1, Columbia Company had a cash balance of $115,000. Columbia Company implemented a new policy this year mandating a cash balance of at least $307,000 at the end of each month and using any surplus to pay down loans. How much money must Columbia Company plan to borrow in February? Below are the forecasted receipts and cash payments from Columbia Company for the first four months of the year: January Budgeted Cash Collections Budgeted Cash Payments: Operating Expenses Dividends Equipment Purchases Total Budgeted Cash Payments $511,000 February $945,000 March $159,000 April $964,000 $328,000 $927,000 $343,000 $453,000 $336,000 $746,000 $328,000 $1,263,000 $1,089,000 $453,000 On January 1, Columbia Company had a cash balance of $115,000. Columbia Company implemented a new policy this year mandating a cash balance of at least $307,000 at the end of each month and using any surplus to pay down loans. How much money must Columbia Company plan to borrow in February?