Ex (3) From the following data; 1- Beg. Cash balance $ 42,000 2- Purchased equipment $ 120,000 paid as follows $ 20,000 Q1 40,000 Q2 20,000 Q3- 20,000 Q4 3- Cash dividends $20,000 per quarter 4- Minimum cash balance $ 50,000 for each quarter 5- Collections from clients $ 200,000 450,000 750,000 600,000 6- D.M. payments $ 50,500 50,300 50,350 60,350 7-D. L. payments $ 85,000 100,000 215,000 115,000 8- Manufacturing Payments $ 65,000 - 95,000 105,200 75,000 9- Selling expenses paid $ 95,000 130,900 185,750 130,500 The company borrowing from. A. B. Bank for any deficiency Required; Prepare the cash Budget for each quarter