cw Wiap lext General 2 Paste BIU.L. A. Merge & Center - $ - % Clipboard Font Alignment Number F17 BCL no 6 Exercise 4 - Prepare cash budget . Aftersun Company is projecting a cash balance of $20,000 in its December 31, 2019, balance 10 sheet. The company's schedule for collection from customers for the fist quarter of 2020 shows 11 total collections of $195,000. The schedule of expecting payments for direct materials for the first quarter of 2020 shows total payments of $70,000. The Company is expecting to sale some equipment in the first quarter of 2020 in the total amount of $10,000; Direct Labor will account for $75,000 and manufacturing overhead $26,000; As for Selling and administrative expenses, it is expected for the first quarter an amount of $65,000; The Company wants to maintain a 12 balance of at least $25,000 cash at the end of each quarter. 13 14 Instructions 15 Prepare a cash budget for the first quarter. Aftersun Company