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Graham Company has prepared the folowing schedules and addtional information (Click te eer, to view the cash recipes schedule) @Clok the con to view tecash payments schedule.) (Click the loon to view the additional information.) Complete a cash budger for Graham Company. (Complete ail answ Beginning cash balance Cash reoeipes Cash available Cash payments asReference ency with a minus sig Cash Receipts from Customers January February March Total 11.500 10,100 5 12,800 34,400 January February March Total Total saies Purchases of drect materials Direct labor Manufacturing overhead Seling and administrative expenses Interest expense Cash Receipts from Customers 9.200 1,150 Total cash payments Ending cash balance before fi nancing Minimum cash balance desired Projected cash excess (def clency) Financing s 1,150 Janvary Credit saies, colection of Jaruary sales in Febrary sh sales Credit sales, collection of Fetruary sales in February February-Credt sales, colection of February sales in March March -Cash sales March-Credit sales Total cash recepts rom customers Boreowing Principal repayments 10,360 $0.240 12,63033,120 Total effects of Accounts Recetvable batance, Moarch 3 Enter any umber in the edt fields and then click Check Answ Print Done January February March Total Cash Payments Direct Materials: Accounts Payable balance, January 1 January-Direct material purchases paid in February February-Direct material purchases paid in March Total payments for direct materials 0 $ 3,000 $ 4,200 4,.200 $ 7,200 3,000 0 Direct Labor: 9,600 2,800 3,300 3,500 Total payments for direct labor Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead 950 9501,900 1,800 1,800 950 9503,700 1,800 Selling and Administrative Expenses: Utilities for office Property taxes on office Office salaries 920 460 460 1,320 1,320 565 65019.500 6.506.5l Direct Labor: Total payments for direct labor 2800 3,3003,5009,600 Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead 9501,900 1,800 3,700 950 1,800 1,800 950 950 Selling and Administrative Expenses: Utilities for office Property taxes on office Office salaries Total payments for Selling and Admin. expenses 460 460920 1,320 1,320 6,500 6,500 6,500 19,500 7,8201 6,9601| 6,9601| 21,740 $ 12,420 14,210$ 15,610 $ 42,240 Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable $ 2,340 $ 4,000 $ 1,410 More Info Graham's beginning cash balance is $5,500 and Graham desires to maintain a minimum ending cash balance of $5,500. Graham borrows cash as needed at the beginning of each month in increments of $1,000 and repays the amounts borrowed in increments of $1,000 at the beginning of months when excess cash is available. The interest rate on amounts borrowed is 8% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Print Done S 12,420 $ 14,210 $ 15,610 $ Graham Company has prepared the following schedules and additional information: (Click the icon to view the cash receipts schedle)(Click the icon to view the cash payments schedule) (Click the loon to view the additional information.) Complete a cash budget for Graham Com . ompleto al answer boxes Enter a rfor any zero balances. Rond al am unts entered into the ash budget to the nearest whie dla. Enter leash deke Reference Graham Company Cash Budget January, February, and Mar Cash Receipts from Customers January February March Total S 11,500 S 10,100 12,800 34,400 January February March Total January Beginning cash balance Cash receipts Cash avalable Cash payments Total sales Cash Receipts from Customers: S 9.200 sales Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Interest expense January-Credt sales, collection of January saies in January 1.150 $ 1,150 8,080 1,010 sales, collection of January sales in February sales February-Credit sales, collection of February sales in February Fobruary-Credit sales, collection of February sales in March March-Cash sales 5 1,010 10,240 1,280 Total cash payments Ending cash balance before fi nancing Minimum cash balance desired Projected cash excess (defi olency) collection of March sales in March $ 10,350 $ 10.240 $ 12.530 S 33,120 Total cash receipts from customers Enter any number in the edit fields and then click Check Answer Accounts Receivable balance, March 31 of March sales in April