Harp Company requires a minimum cash balance of $4,600. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 15% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except interest. (Click the icon to view the completed budget information.) Harp does not have any outstanding debt on January 1. Complete the cash budget for the first quarter for Harp Company. Round interest expense to the nearest whole dollar. Begin by preparing the cash budget for January, then prepare the cash budget for February and March. Finally, prepare the totals for the quarter. (Complete all input fields. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar. Enter a cash deficiency and/or negative effects of financing with a minus sign or parentheses.) Harp Company Cash Budget January February March Total Beginning cash balance $ 4,600 21,000 Cash receipts 30,000 44,000 95,000 Cash available 25,600 Cash payments: All expenses except interest 32,000 40,000 38,000 110,000 0 Interest expense Total cash payments 32,000 Ending cash balance before financing Minimum cash balance desired (4,600) (4,600) (4,600) (4,600) Projected cash excess (deficiency) Financing: Borrowing Principal repayments Cash payments: All expenses except interest 32,000 40,000 38,000 110,000 0 Interest expense Total cash payments 32,000 Ending cash balance before financing Minimum cash balance desired (4,600) (4,600) (4,600) (4,600) Projected cash excess (deficiency) Financing: Borrowing Principal repayments Total effects of financing Ending cash balance