(Cash budget) The following cash budget is for the second quarter of next year. Complete the missing numbers on the cash budget, assuming that the accountant has requested a minimum cash balance of $3,500 at the start of each month. All borrowings, repayments, and investments are made in even $500 amounts. No borrowings or investments exist at the beginning of April.LO.1 

Transcribed Image Text:

Beginning cash balance Cash receipts Total cash available Cash disbursements Payments on account Wages expense Overhead costs April May June Total $ 3,700 $ LA ? $ ? $ ? 8,200 10,100 ? ? $ ? $ ? $20,500 $38,900 ? $ 3,900 $ 5,700 $ ? 5,000 ? 6,200 17,300 4,000 4,600 ? 13,000 $10,300 $ ? $16,300 $ ? $ ? $ ? $ ? $ ? (3,500) (3,500) ? ? ? $ (4,400) $ ? $ (5,800) $ 69 ? $ (500) $ ? 0 0 ? ? 0 0 ? (10) $ ? $ ? $ 3,690 Total disbursements Cash excess (deficiency) Minimum cash balance Cash available (needed) Financing Borrowings (repayments) Acquire (sell) investments Receive (pay) interest Ending cash balance $ 2,000 $ 3,600