Blossom Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2020. All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere.

Beginning cash balance$30,300

Required minimum cash balance25,250

Payment of income taxes (2nd quarter)4,040

Professional salaries:

1st quarter141,400

2nd quarter141,400

Interest from investments (2nd quarter)7,070

Overhead costs:

1st quarter77,770

2nd quarter101,000

Selling and administrative costs, including

$2,020depreciation:

1st quarter50,500

2nd quarter70,700

Purchase of equipment (2nd quarter)50,500

Sale of equipment (1st quarter)12,120

Collections from clients:

1st quarter237,350

2nd quarter383,800

Interest payments (2nd quarter)202

Make a cash budget for each of the first two quarters of 2020.