Your answer is partially correct. Try again. Det Corporation is projecting a cash balance of $37,200 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $229,400. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $53,320. Other Information gathered for the first quarter of 2020 is sale of equipment $3,720, direct labor 506,000, manufacturing overhead $43,400, selling and administrative expenses $55.800; and purchase of securities $17,360. Deit wants to maintain a balance of at least 531,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget Beginning Cash Balance 37200 AU Recepti Collection from Customers 229400 Sale of Equipment 3720 Total Rec 231120 Total Available Cash 270320 Disturiamente Less DISDUrsements Direct Materials 53320 Direct Labor 86800 Manufacturing overhead 43400 Selling and Administrative Expenses 55800 Purchase of Securities 17360 Total Disbursements 256680 Excess of Available Cash Over Cash Disbursements 13640 Financing Add Borrowings 17360 Less Repayments 0 X Financing 17360