2-b. Schedule of expected cash disbursements for merchandise purchases Schedule of Expected Cash Disbursements for Merchandise Purchases February March Quarter January $ 88,425 December purchases January purchases February purchases March purchases Total cash disbursements for purchases 133,575 133,575 3. Cash budget. (Cash deficiency, repayments and interest should be indicated by a minus sign.) Hillyard Company Cash Budget January February March Quarter Beginning cash balance Add cash collections Total cash available Less cash disbursements 51,000 288,000 339,000 222,000 123,680 Purchases of inventory Selling and administrative expenses Purchases of equipment Cash dividends 45,000 390,680 (51,680) Total cash disbursements Excess (deficiency) of cash Financing Borrowings Repayments Interest Total financing Ending cash balance