Homework: HW-7 Score: 0 of 1 pt E22-29 (similar to) Graham Company has prepared the following schedules and additional information: (Click the icon to view the cash receipts schedule.) (Click the icon to view the cash payments sch (Click the icon to view the additional information.) Complete a cash budget for Graham Company. (Complete all answer boxes. Enter a "0" for any zero balance Graham Company Cash Budget January, February, and March January Beginning cash balance Cash receipts Cash available Cash payments: Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses 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 Enter any number in the edit fields and then click Check Answer 3 parts remaining 2 of 3 (0 complete) edule) Reference Cash Receipts from Customers January February March Total Total sales $ 38.100 10,600 $ 14,600 $ 12,900 S January February March Total 1.590 Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales January-Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February February-Cash sales FebruaryCredit sales, collection of February sales in February February Credit sales collection of February sales in March March Cash sales March-Credit sales, collection of March sales in March 10.220 2,190 9030 Total cash receipts from customers $ 14,000 $ 13,155 Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April 1935 Print Done Clear All 2 of 3 (0 complete) Reference January February March Total Cash Payments Direct Materials: Accounts Payable balance, January 1 January-Direct material purchases paid in February February-Direct material purchases paid in March Total payments for direct materials $ 3.900 4 500 3,900 4,500 $ 8,400 Direct Labor: Total payments for direct labor 3.200 3,400 3.800 10,400 750 1.500 Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead 1.440 750 750 2,940 Selling and Administrative Expenses: Utilities for office Property taxes on office 450 450 900 1.440 Oceales 4,000 5,440 4000 4.450 4.000 4.450 12.000 14,340 Total payments for Selling and Admin. expenses 10,080 S 12,500 13,500 36,080 Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable 4. 200 S 1.200 Print Done 2 of 3 (0 complete) Round all amounts entered into the cash budget to the nearest whole dollar. Enter a cash deficiency with a minus sign 0 More Info Graham's beginning cash balance is 57 000 and Graham desires to maintain a minimum ending cash balance of $7,000 Graham borrows cash as needed at the beginning of each month in increments of $1.000 and repays the amounts borrowed in increments of $1,000 at the beginning of months when excess cash is available. The interest rate on amounts borrowed is 9% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month Print Done