Relevant data from the Poster Company's operating budgets are: Quarter 1 Quarter 2 Sales $200,480 $211,538 Direct material purchases 115,290 120,831 Direct labor 75,200 73,298 Manufacturing overhead 25,300 25,300 Selling and administrative expenses 33,400 33,400 Depreciation Included in selling and administrative 1,500 1,000 Collerons from customers 215,392 240,155 Cash payments for purchases 114,295 119,253 Additional data: Capital assets were sold in January for $9,000 and 54,500 in May. Dividends of $4,400 were paid in February. The beginning cash balance was $60,358 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 Beginning Cash Balance 60,158 59,000 Add: Cash Receipts Collections from Customers 215,392 240,155 a Use this information to prepare a cash budget for the first two quarters of the year: If an amount The Poster Company Cash Budget For the First Two Quarters Quarter 1 Quarter 2 60,358 59,000 Beginning Cash Balance Add: Cash Receipts Collections from Customers 215,392 240,155 Other Collections 9,000 4,500 Total Receipts 224,393 244,655 Total Available Cash Less: Cash Payments Direct Material 119,253 114,295 75,200 73,298 Direct Labor Manufacturing Overhead Selling and Administrative Expenses Cash Dividend 33,400 33,400 Total Cash Payments Excess (Deficiency) of Available Cash Over Cash Disbursements Financing Add: Borrowings III II) 1. 00 Less: Repayments Ending cash balance