Hex Company requires a minimum cash balance of $3,500. 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 14% 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.) Hex does not have any outstanding debt on January 1. Complete the cash budget for the first quarter for Hex Company - X Data Table cash budget to the nearest whole dollar. Enter a cash deficiency and/or negative Hex Company Cash Budget For the Three Months Ended March 31 January February $ 3,500 20,500 27,500 March Total Beginning cash balance Cash receipts Cash available 43,000 91.000 24,000 Begin by preparing the cash budget for January, then prepare the cash budget for February and March. Finally, prepare effects of financing with a minus sign or parentheses.) Hex Company Cash Budget For the Three Months Ended March 31 January Beginning cash balance $ 3,500 Cash receipts 20,500 Cash available 24,000 Cash payments: All expenses except interest 37,000 0 Interest expense Total cash payments 37,000 Ending cash balance before fiOnancing (3,500) Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Principal repayments Total effects of Ofinancing 37.000 40,000 34,000 111,000 0 37,000 (3,500) (3,500) (3,500) (3,500) 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 Principal repayments Total effects of financing Ending cash balance III Ending cash balance Print Done Enter any number in the edit fields and then click Check