Walter Company has the following information for the month of March:
Cash balance, March 1 ....... $16,320
Collections from customers ..... 36,450
Paid to suppliers ........... 22,300
Manufacturing overhead ....... 6,100
Direct labor ............ 8,250
Selling and administrative expenses...... 4,200

Walter pays wages in the month incurred. Manufacturing overhead includes $1,200 for machinery depreciation, but the amount for selling and administrative expenses is exclusive of depreciation. Additionally, Walter also expects to buy a piece of property for $7,000 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $10,000.

Required:
Prepare Walter’s cash budget for the month of March.