Relevant data from the Poster Company's operating budgets are: Quarter 1 Quarter 2 Sales $208,460 $211,538 Direct material purchases 115,300 120,831 Direct labor 75,210 73,298 Manufacturing overhead 25,400 25,300 Selling and administrative expenses 33,500 33,600 Depreciation included in selling and administrative 1,600 1,000 Collections from customers 215,391 240,156 Cash payments for purchases 114,300 119,254 Additional data: Capital assets were sold in January for $10,000 and $4,500 in May, Dividends of $4,600 were paid in February. The beginning cash balance was $60,359 and a required minimum cash balance is $59.000, Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 Add: Cash Receipts