Hoppy 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) Hoppy does not have any outstanding debt on January 1. Complete the cash budget for the first quarter for Hoppy 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.) Hoppy Company Cash Budget For the Three Months Ended March 31 January Beginning cash balance 3,500 Cash receipts 19,000 Cash available 22,500 Cash payments: All expenses except interest Interest expense 0 Total cash payments 34,000 Ending cash balance before financing Minimum cash balance desired (3,500) Projected cash exoss (deficiency) Financing Borrowing Principal repayments Total effects of financing Ending cash balance 34.000 Hoy Companyures a minimum case of $3.500 Weste company gets a cash cow the amounted on the month Expected excess cash is used to pay any amounts rested to the previous mon proper bloco spa on the first of the more 54% per year. The company has already completed the budgeting process for the first quarter for cash recept for expenses me conteve the comedor Happy does not have any outstanding debt on wyt. Complete the cash bag for the first terry Company Hourd interessere Begin by preparing the cash budget for January, the prepare the cash budget for Fanuary and Much Finally prepare the northernet. Compeu falder for any rere and murdered in the cash between andere of Francing with a grow Hoppy Company Cash Budget For the Three Months Ende March 1 Bigcabance Cash Cathe . 18.000 220 Mensen 00 300 100 The payments Ending being Memush balance Proci che France Borowing Precord Tots of fra Data table Ending can be How Corony Cash the For the hosted March 11 January Forway 1 3.500 22500 begge Cash Cathe Cam 2150 35.000 SLO Total Erdinger fra Minimum where Pacheco 200 100 100 Pog Twits bene Enchance Done