Hepply does not have any outstanding debt on January 1. Complete the cash budget for the first quarter for Hepply Company. Round interest expense to the nearest whole dollar. Cash Budget For the Three Months Ended March 31 January February March Total Beginning cash balance $ 3,100 23,000 Cash receipts 31,000 42,000 96,000 Cash available 26,100 Cash payments: All expenses except interest 34,000 36,000 30,000 100,000 Interest expense 0 34,000 Total cash payments Ending cash balance before financing (3,100) (3,100) (3,100) (3,100) Minimum cash balance desired Projected cash excess (deficiency) Financing: Borrowing Principal repayments Total effects of financing Ending cash balance Hepply Company requires a minimum cash balance of $3,100. 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 17% 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.) Hepply does not have any outstanding debt on January 1. Data Table Begin by preparing the cash budget for January, then prep cash budget to the nearest whole dollar. Enter a cash defid for any zero balances. Round all amounts entered into the Hepply C Cash B! For the Three Month Hepply Company Cash Budget For the Three Months Ended March 31 January February March Total Beginning cash balance $ S 3,100 23,000 31,000 42,000 Cash receipts 96,000 26,100 Beginning cash balance Cash receipts Cash available Cash payments: All expenses except interest 34,000 36,000 30,000 100.000 0 Interest expense 34,000 Cash available Cash payments: All expenses except interest Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess deficiency) Financing: Borrowing (3,100) (3.100) (3,100) Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing: Borrowing (3,100) Principal repayments Total effects of financing Enter any number in the edit fields and then continue t Ending cash balance