A company has prepared the following partially completed Cash Budget for the first quarter. You can assume that cash collections from customers and total cash disbursements were calculated correctly.

The company has also provided the following information:

• The company requires a minimum balance of $8,000 at the end of each month.
• The interest rate is 12% per year.
• Borrowings are made in increments of $1,000 at the beginning of each month.
• Repayments are made at the end of each month.
• Interest is paid only when repayment of the principal is made.
• The company had no loans outstanding on December 31.

Required: Complete the Cash Budget by entering a number in each of the boxes. Do not leave any boxes blank, but enter a zero instead of a blank.

CASH BUDGET	Month			Quarter
	Jan	Feb	Mar
Beginning cash balance	$9,000	$	$	$
Collections from customers	66,000	70,000	96,000	232,000
Total cash available	75,000
Total cash disbursements	75,000	71,000	68,000	214,000
Excess (deficiency) of cash available over disbursements
Financing:
Borrowings
Repayments
Interest
Total financing
Ending cash balance	$	$	$	$