- Your answer is partially correct. Flint Corporation prepares monthly cash budgets. Here are relevant data from operating budgets for 2022. January February Sales $360,900 $400,700 Purchases 122,000 131,200 Salaries 84,400 81,900 Administrative expenses 70,000 73,400 Selling expenses 78,300 87,400 All sales and purchases are on account. Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred. Administrative expenses include $1,500 of depreciation per month. Other data. 1. Collections from customers: January $333,600; February $378,700. 2. Payments for purchases: January $100,300; February $144,000. 3. Other receipts: January: collection of December 31, 2021, notes receivable $17,400; February: proceeds from sale of securities $5,500. 4. Other disbursements: February $12,300 cash dividend. The company's cash balance on January 1, 2022, is expected to be $48,500. The company wants to maintain a minimum cash balance of $65,000. Prepare a cash budget for January and February. (Do not leave any answer field blank. Enter O for amounts.) FLINT CORPORATION Cash Budget For the Two Months Ending February 28, 2022 4 January - - February Beginning cash balance 48500 $ 48500 Add 4: Cash receipts Sale of securities 5500 Collections from customers 333600 378700 Notes receivable Notes receivable 17400 i Total receipts 351000 384200 Total available cash Less : Cash disbursements Salaries + Selling expenses Administrative expenses Purchases Dividends Total disbursements Excess (deficiency) of available cash over disbursements Financing Add 4: Borrowings i i i Less 4) : Repayments Ending cash balance Ending cash balance [ D