Jackson Brothers Inc. is a distributor of mens, womens, and childrens shoes. The company imports shoes primarily from Europe and sells them to specialty clothing and shoe stores around the country. The companys chief accountant has gathered the following information to aid in the preparation of a cash budget for the first quarter of year 2.

	January	February	March
Interest revenue from investments	$2,875	$3,123	$2,250
Estimated cash payment for manufacturing costs	1,118,575	1,199,678	1,794,455
Interest payments on a line of credit	14,950	12,555	17,485
Income tax payments			174,939
Purchase of factory equipment for cash	1,384,950	1,447,010	955,408
Selling and administrative expense cash payments	230,390	223,325	243,100
Minimum cash balance	287,500	287,500	287,500
Cash balance at beginning of month	300,885

The company expects to collect cash on its accounts receivable during the three months, as follows:

	January: $3,139,500
	February: $3,118,650
	March: $3,121,400

Complete the following cash budget for Jackson Inc. by entering the appropriate values in the spaces provided. Use a minus sign to indicate the negative amount.

Jackson Brothers Inc.
Cash Budget
For the Quarter Ending March 31, Year 2
	January	February	March
Estimated cash receipts from
Collections on accounts receivable	$3,139,500	$3,118,650
Interest revenue			2,250
Total cash receipts	$3,142,375		$3,123,650
Estimated cash payments for
Manufacturing costs	$1,118,575
Selling and administrative expenses	230,390		243,100
Purchase of factory equipment		1,447,010	955,408
Interest expense	14,950	12,555
Income taxes			174,939
Total cash payments			$3,185,387
Cash increase (decrease)		$239,205
Cash balance at beginning of month	300,885
Cash balance at end of month
Minimum cash balance			287,500
Excess (deficiency)			$584,363