J's Condo's is in a seasonal business and prepares quarterly budgets. The condo's fiscal year runs from January 1 through December 31. Production occurs only in the first quarter (January to March), but sales take place throughout the year. The sales forecast for the coming year shows the following:

First quarter		$486,000		Third quarter		$486,000
Second quarter		294,000		Fourth quarter		486,000

There are no cash sales, and the beginning balance of receivables is expected to be collected in the first quarter. Subsequent collections are two-thirds in the quarter when sales take place and one-third in the following quarter. J's Condo's makes materials purchases valued at $397,000.00 in the first quarter, but makes no purchases in the last three quarters. It makes payment when it purchases the materials. Direct labour of $348,000.00 is incurred and paid only in the first quarter. Factory overhead of $338,000.00 is also incurred and paid in the first quarter, and is at a standby level of $99,000.00 during the other three quarters. Selling and administrative expenses of $35,000.00 are paid each quarter throughout the year. J's Condo's has an operating line of credit with Scotiabank at an interest rate of 5% per annum. The business plans to keep a cash balance of at least $10,000 at all times, and it will borrow and repay in multiples of $5,000. It makes all borrowings at the beginning of a quarter, and makes all payments at the end of a quarter. It pays interest only on the portion of the loan that it repays in a quarter. J's Condo's plans to purchase equipment in the second and fourth quarters for $69,000 and $148,000, respectively. The cash balance on January 1 is $25,000 and accounts receivable total $152,000. Prepare a cash budget for the year. Show receipts, disbursements, the ending cash balance before borrowing, the amounts borrowed and repaid, interest payments, and the ending cash balance, also round answers to the nearest whole dollar.

J's Condo's Cash Budget For the Four Quarters Ending December 31
		Quarter
		1		2		3		4