urrent Attempt in Progress Danner Company expects to have a cash balance of $51.750 on January 1.2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $97,750, February $172,500 Payments for direct materials: January $57,500, February $86,250 Direct labor: January $34,500, February $51,750. Wages are paid in the month they are incurred. Manufacturing overhead: January $24,150, February $28,750. These costs include depreciation of $1,725 per month. All other overhead costs are paid as incurred Selling and administrative expenses: January $17,250, February $23,000. Nese costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $13,800 in cash. Danner Company has a line of credit at a local bank that enables it to borrow up to $28,750. The company wants to maintan a minimum monthly cash balance of $23,000. Prepare a cash budget for January and February. Prepare a cash budget for Jarwary and February