Exercise 9-19 Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2020. All that reains 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 Required minimum cash balance Payment of income taxes (2nd quarter) Professional salaries: $33,000 27,500 4,400 154,000 154,000 7,700 1st quarter 2nd quarter Interest from investments (2nd quarter) Overhead costs: 1st quarter 2nd quarter 84,700 110,000 Seling and administrative costs, including $2,200 depreciation: 55,000 77,000 55,000 13,200 1st quarter 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) Collections from clients: 1st quarter 2nd quarter 258,500 418,000 220 Interest payments (2nd quarter) Prepare a cash budget for each of the first two quarters of 2020