*Exercise 10.28 bu Your answer is partially correct. Try again. Pink Martini Corporation is projecting a cash balance of $29,000 in its December 31, 2019, balance sheet. Pink Martini's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $183,000. The 18 schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $45,000. Other m information gathered for the first quarter of 2020 is as follows: sale of equipment $4,000; direct labour $72,000, manufacturing overhead $32,000, selling and administrative expenses $44,000; and purchase of securities $15,000. Pink ei Martini wants to maintain a balance of at least $23,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. PINK MARTINI CORPORATION Cash Budget For the First Quarter Ending March 31, 2020 Beginning Cash Balance in Add Beginning Cash Balance s129000 1183000 Collection From Customers 94000 Sale of Equipment 216000 Total Available Cash X 45000 Tol Cash Receipts Total Available Cash Less sh 172000 Direct Labour 132000 Manufacturing Overhead Selling And Administrative Expenses 744000 Purchase Of Securities Ti 5000 X X Borrowing X Disbursements X TExcess of Cash Receipts Over Cash Disbursements x Total Disbursements X X