Current Attempt in Progress

Crane Dental Clinic is a medium$-$sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first $2$ quarters of $2020.$ All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere.

Beginning cash balance

$$33,900$

Required minimum cash balance

$28\mathrm{.}250$

Payment of income taxes $(2$nd quarter$)$

$4,520$

Professional salaries:

$1$st quarter

$158\mathrm{.}200$

$2$nd quarter

$158,200$

Interest from investments $(2$nd quarter$)$

$7\mathrm{.}910$

Overhead costs:

$1$st quarter

$87,010$

$2$nd quarter

$113,000$

Selling and administrative costs, including

$$2\mathrm{.}260$ depreciation

$1$st quarter

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SUPPORT

$56,500$

PLETCHER DENTAL CLTNIC

Cash Budget

$2^{nd}$ Quarter

$

$$2$nd quarter

$79,100$

Purchase of equipment $(2$nd quarter$)$

$56\mathrm{.}500$

Sale of equipment $(1$st quarter$)$

$13,560$

Collections from clients:

$1$st quarter

$265\mathrm{.}50$

$2$nd quarter

$429,400$

Interest payments $(2$nd quarter$)$

$226$

Prepare a cash budget for each of the first two quarters of $2020$

CRANE DENTAL CLINIC