Located in Telluride, Colorado, Wellness Centers, Inc., emphasizes the benefits of regular workouts and the importance of physical examinations. The corporation operates three fully equipped fitness centers, as well as a medical center that specializes in preventive medicine. The data that follow pertain to the corporation’s first quarter.

Cash Receipts

Memberships: December, 870; January, 880; February, 910; March, 1,030

Membership dues: $90 per month, payable on the 10th of the month

(80 percent collected on time; 20 percent collected one month late)

Medical examinations: January, $35,610; February, $41,840; March, $45,610

Special aerobics classes: January, $4,020; February, $5,130; March, $7,130

High-protein food sales: January, $4,890; February, $5,130; March, $6,280

Cash Payments

Salaries and wages:

Corporate officers: 2 at $12,000 per month

Physicians: 2 at $7,000 per month

Nurses: 3 at $2,900 per month

Clerical staff: 2 at $1,500 per month

Aerobics instructors: 3 at $1, 100 per month

Clinic staff: 6 at $1,700 per month

Maintenance staff: 3 at $900 per month

Health-food servers: 3 at $750 per month

Purchases:

Muscle-toning machines: January, $14,400; February, $13,800

(no purchases in March)

Pool supplies: $520 per month

Health food: January, $3,290; February, $3,460; March, $3,720

Medical supplies: January, $10,400; February, $11,250; March, $12,640

Medical uniforms and disposable garments: January, $7,410; February, $3,900; March, $3,450

Medical equipment; January, $11, 200; February, $3,400; March, $2,450

Utilities expense: January, $5,450; February, $5,890; March, $6,090

Insurance:

Fire: January, $3,470

Liability: March, $3,980

Property taxes: $3,760 due in January

Federal income taxes: Last year’s taxes of $21,000 due in March

Miscellaneous: January, $2,625; February, $2,800; March, $1,150

Wellness Centers’ controller anticipates that the beginning cash balance on January 1 will be $9,840.

Required

Prepare a cash budget for Wellness Centers, Inc., for the first quarter of the year. Use January, February, March, and Quarter as the column headings.