(12 points) A Company expects to have a cash balance of $100,000 on February 28, 2021. A Company wants to maintain a minimum monthly cash balance of $80,000. All costs are paid as incurred. Relevant monthly budget data for March 2021 are as follows: A Company's sales are 40% cash and 60% credit. Credit sales are collected 20% in the month of sale, 50% in the month following sale, and 26% in the second month following sale; 4% are uncollectible. The sales in January, February, March are respectively $305,000, $350,000, and $360,000. A Company's purchases are 30% cash and 70% credit. Purchases on account are paid 60% in the month following purchase, and 40% in the second month following purchase. The purchases in January, February, March are respectively $230,000, $220,000, and $210,000. Direct labor incurred in March 2021 : $95,000 Manufacturing overhead excluding the monthly depreciation of $5,000: $69,500 Selling and administrative expenses including the monthly depreciation $2,000: $53,600 Marketable securities of $50,000 can be sold if needed for addition cash. The cash budget for March 2021 will be: A Company Cash Budget For the month ended 31 March 2021 Beginning cash balance A add Collection from customers B Sales of securities C Total Receipts Total Available Cash less Direct Material Direct Labor Manufacturing Overhead Selling & Administrative Expenses Total Disbursements Excess (Deficiency) of available cash over cash disbursement Financing add Borrowings less Repayments including interest Ending Cash Balance D 95,000 E F H G