E23-11 You recently began a job as an accounting intern at Trailblazers Ltd. Your first task was to help prepare the cas i budget for February and March. Unfortunately, the computer with the budget file crashed and you did not have a backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget. Trailblazers eliminates any cash deficiency by borrowing the exact amount needed from Second State Bank, where the current interest rate is 12%. Trailblazers repays all borrowed amounts at the end of the month, as cash becomes available. Complete the following cash budget: TRAILBLAZERS LTD. Cash Budget February and March February March Beginning cash balance $10,900 S ? Cash collections. ? 74.800 Cash from sale of plant assets. 1.800 Cash available. 90.900 Cash payments: Purchase of inventory.. ? $41.000 Operating expenses.. 31.900 Total payments. 82.500 (1) Ending cash balance before financing 19,500 Minimum cash balance desired. 15,000 15.000 Cash excess (deficiency) Financing of cash deficiency: Borrowing tat end of month). S S ? Principal repayments (at end of month). Interest expense (2) Total effects of financing.. Ending cash balance (1) + (2)