2-22.

Children's Best Hope (CBH) provides day care services to low income families. CBH bills the state for its services under a service contract. Billings for the first four months of 2013 are anticipated to be as follows:

January $220,000

February $200,000

March $240,000

April $230,000

CBH finds that it collects 25 percent of the amounts billed in the month of service with the balance collected in the month following service.

CBH is planning to acquire a new building as an additional site for its services in March 2013. The full $250,000 purchase cost of the building will be financed with a mortgage loan.

CBH anticipates a February 28, 2013, cash balance of $26,000.

CBH anticipates the following expenses and disbursements for the month of March 2013:

Payroll payments

$170,000

Personnel expenses

$160,000

Payments to suppliers

$ 45,000

Supplies expense

$ 48,000

Depreciation expense

$ 12,000

Interest expense

$ 6,000

Please Give an Example ofoperating budget, cash budget, and capital budget for CBH for the month of March 2013.