E9-18B Avante Dental Clinic is a medium-sized dental service specializing in family den- tal care. The clinic is currently preparing the master budget for the first 2 quarters of 2014. 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 $ 30,000 Required minimum cash balance 20,000 Payment of income taxes (2nd quarter) 4,000 Professional salaries: Ist quarter 145,000 2nd quarter 145,000 Interest from investments (2nd quarter) 7,000 Overhead costs: 1st quarter 95,000 2nd quarter 120,000 Selling and administrative costs, including $3,000 depreciation: Ist quarter 50,000 2nd quarter 70,000 Purchase of equipment (2nd quarter) 50,000 Sale of equipment (1st quarter) 12,000 Collections from clients: 1st quarter 245,000 2nd quarter 390,000 Interest payments (2nd quarter) Instructions Prepare a cash budget for each of the first two quarters of 2014. 400