E22-28 (similar to) Question Help Carmen Company has prepared the following schedules and additional information: (Click the icon to view the cash receipts schedule.) (Click the icon to view the cash payments schedule.) Click the icon to view the additional information.) Complete a cash budget for Carmen Company for January, February and March. (Complete all input fields. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar. Enter a cash deficiency with a minus sign or parentheses.) 0 Carmen Company Cash Budget January, February, and March January Beginning cash balance 3000 Cash receipts 13430 Cash available 16430 Cash payments: Purchases of direct materials Direct labor 2500 Manufacturing overhead 4200 Selling and administrative expenses 8180 Interest expense Total cash payments 14880 Ending cash balance before fiOnancing 1550 Minimum cash balance desired 3000 Projected cash excess (deficiency) 1450 Financing Borrowing 1450 Principal repayments Total effects of financing 1450 3000 Ending cash balance 8 (similar to) Questi 6 More Info Company has prepared the fd k the icon to view the cash re k the icon to view the addition e a cash budget for Carmen nto the cash budget to the ne Carmen's beginning cash balance is $3,000 and Carmen desires to maintain a minimum ending cash balance of $3,000. Carmen 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 16% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. balances. Round a i Reference Cash Receipts from Customers Total Total sales January February March $ 15,800 $ 11,600 $ 12,900 $ January February March nd 40,300 Total uf ng $ 11,060 ag 2,370 SH GA 2,370 a Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales January-Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February February-Cash sales February-Credit sales, collection of February sales in February February-Credit sales, collection of February sales in March March-Cash sales March-Credit sales, collection of March sales in March 8,120 7 1,740 d S 1,740 9,030 1,935 12,705$ ip A 13,430 $ 12,230$ 38,365 Total cash receipts from customers ed Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April GA 1,935 i Reference January February March Total Cash Payments Direct Materials: Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February February-Direct material purchases paid in March Total payments for direct materials $ 3,000 GA 3,600 3,600 $ 3,000 6,600 Direct Labor: Total payments for direct labor 2,500 3,800 4,500 10,800 850 850 1,700 Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead 4,200 4,200 4,200 850 850 5,900 510 510 Selling and Administrative Expenses: Utilities for office Property taxes on office Office salaries Total payments for Selling and Admin. expenses 1,020 1,680 1,680 6,500 6,500 7,010 6,500 7,010 19.500 22,200 8,180 $ 15,960$ 14,880 $ 14,660 $ 45,500 Total cash payments Acccount balances, March 31