\begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{\begin{tabular}{l} Hoppy Company \\ Cash Budget \\ For the Three Months Ended March 31 \end{tabular}} \\ \hline & January & February & March & Total \\ \hline Beginning cash balance & $3,500 & & & \\ \hline Cash receipts & 19,000 & 27,500 & 42,000 & 88,500 \\ \hline Cash available & 22,500 & & & \\ \hline \multicolumn{5}{|l|}{ Cash payments: } \\ \hline \begin{tabular}{l} All expenses except interest \\ Interest expense \end{tabular} & \begin{tabular}{r||r|} 34,000 \\ 0 \\ \end{tabular} & 35,000 & 39,000 & 108,000 \\ \hline Total cash payments & 34,000 & & & \\ \hline \multicolumn{5}{|l|}{ Ending cash balance before fi nancing } \\ \hline Minimum cash balance desired & (3,500) & (3,500) & (3,500) & (3,500) \\ \hline \multicolumn{5}{|l|}{ Projected cash excess (defi ciency) } \\ \hline \multicolumn{5}{|l|}{ Financing: } \\ \hline \multicolumn{5}{|l|}{ Borrowing } \\ \hline Principal repayments & & & & \\ \hline Total effects of financing & & & & \\ \hline Ending cash balance & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{\begin{tabular}{l} Hoppy Company \\ Cash Budget \\ For the Three Months Ended March 31 \end{tabular}} \\ \hline & January & February & March & Total \\ \hline Beginning cash balance & $3,500 & & & \\ \hline Cash receipts & 19,000 & 27,500 & 42,000 & 88,500 \\ \hline Cash available & 22,500 & & & \\ \hline \multicolumn{5}{|l|}{ Cash payments: } \\ \hline \begin{tabular}{l} All expenses except interest \\ Interest expense \end{tabular} & \begin{tabular}{r||r|} 34,000 \\ 0 \\ \end{tabular} & 35,000 & 39,000 & 108,000 \\ \hline Total cash payments & 34,000 & & & \\ \hline \multicolumn{5}{|l|}{ Ending cash balance before fi nancing } \\ \hline Minimum cash balance desired & (3,500) & (3,500) & (3,500) & (3,500) \\ \hline \multicolumn{5}{|l|}{ Projected cash excess (defi ciency) } \\ \hline \multicolumn{5}{|l|}{ Financing: } \\ \hline \multicolumn{5}{|l|}{ Borrowing } \\ \hline Principal repayments & & & & \\ \hline Total effects of financing & & & & \\ \hline Ending cash balance & & & & \\ \hline \end{tabular}