E8-16 Preparing Cash Budget [LO 8-4] Walter Company has the following information for the month of March:

Walter pays all expenses in the month incurred. Manufacturing overhead includes $1,800 for machinery depreciation, but the amount for selling and administrative expenses is exclusive of depreciation. Additionally, Walter also expects to buy a piece of property for $8,200 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $12,000. Required: Prepare Walters cash budget for the month of March.

Cash balance, March 1 Collections from customers Paid to suppliers Manufacturing overhead Direct labor Selling and administrative expenses $ 18,120 42,500 23,500 7,300 8,850 5,400