Harpoon Company requires a minimum cash balance of $3,800. 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 9% 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.) Harpoon does not have any outstanding debt on January 1. Complete the cash budget for the first quarter for Harpoon 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 "O" 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.) Harpoon Company Cash Budget For the Three Months Ended March 31 January February March Total Data Table $ 3,800 3,800 19,000 3,800 27,000 11,400 88.500 42,500 Beginning cash balance Cash receipts Cash available Cash payments: All expenses except interest 22,800 30.800 46,300 99,900 37,000 30,000 107.000 40,000 0 0 January March Total 40,000 42,500 88,500 (3,800) (3.800) (3,800) (3 800) Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Principal repayments Total effects of financing 30,000 107.000 Harpoon Company Cash Budget For the Three Months Ended March 31 February Beginning cash balance $ 3,800 Cash receipts 19.000 27.000 Cash available 22,800 Cash payments: All expenses except interest 40,000 37,000 0 Interest expense 40,000 Total cash payments Ending cash balance before financing (3,800) (3,800) Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Principal repayments Total effects of financing Ending cash balance (3.800) (3,800) Ending cash balance Print Done