Marcel 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 schedule.) (Click the icon to view the additional information.) Complete a cash budget for Marcel Company for January, February and March. (Complete all input fields. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar. Enter a cash deficiency with a minus sign or parentheses.) Marcel 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 Cash Receipts from Customers January February March Total Total sales $ 11,200 || $ 12,300 || $ 11,100 $ 34,600 January February March Total Cash Receipts from Customers: Accounts Receivable balance, January 1 JanuaryCash sales $ 6,720 2,240 JanuaryCredit sales, collection of January sales in January January-Credit sales, collection of January sales in February FebruaryCash sales $ 2,240 7,380 2,460 FebruaryCredit sales, collection of February sales in February FebruaryCredit sales, collection of February sales in March $ 2,460 March-Cash sales 6,660 MarchCredit sales, collection of March sales in March 2,220 11,340||$ $ 8,960 || $ 12,080 || $ 32,380 Total cash receipts from customers Accounts Receivable balance, March 31: MarchCredit sales, collection of March sales in April 2,220 January February March Total Cash Payments Direct Materials: Accounts Payable balance, January 1 $ $ 3,100 JanuaryDirect material purchases paid in February FebruaryDirect material purchases paid in March $ 3,500 3,500 $ 3,100 6,600 Total payments for direct materials Direct Labor: Total payments for direct labor 3,300 3,500 3,600 10,400 Manufacturing Overhead: Utilities for plant 650 650 1,300 2,400 2,400 Property taxes on plant Total payments for manufacturing overhead 2,400 650 650 3,700 Selling and Administrative Expenses: Utilities for office 250 250 500 Property taxes on office 2,040 2,040 Office salaries 3,500 3,500 3,500 10,500 Total payments for Selling and Admin. expenses 5,540 3,750 3,750 13,040 $ 11,240 $ 11,000 $ 11,500 $ 33,740 Total cash payments Acccount balances, March 31: Prepaid Property Taxes $ 3,330 Accounts Payable $ 4,800 Utilities Payable $ 900 X i More Info Marcel's beginning cash balance is $5,000 and Marcel desires to maintain a minimum ending cash balance of $5,000. Marcel 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 8% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Print Done