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 sian ar parentheses Reference Reference January February March Total Marcel Company Cash Budget January, February, and March January February Cash Receipts from Customers January February March Total March Total Total sales 12.400 S 16,100 $ 11.100 s 39.600 Cash Payments Direct Materials: Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February FebruaryDirect material purchases paid in March $ Beginning cash balance January February March Total S 3,000 Cash receipts Cash available S 4,100 4,100 s ol 3,000 7,100 Total payments for direct materials $ 9,920 Cash payments: Purchases direct materials 1,240 Direct Labor: S 1.240 Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales January-Credit sales, collection of January sales in January JanuaryCredit sales, collection of January sales in February February-Cash sales FebruaryCredit sales, collection of February sales in February FebruaryCredit sales, collection of February sales in March March-Cash sales MarchCredit sales, collection of March sales in March Total payments for direct labor 2,900 3,200 3,900 Direct labor Manufacturing overhead Selling and administrative expenses 10,000 12,880 1,610 Interest expense $ 1,610 850 8501 1,700 Total cash payments 8.880 Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead 3,120 Ending cash balance before financing 1,110 3,120 3,120 850 8501 4,820 $ 11,160 $ 15,730$ 11,600 $ 38,490 Total cash receipts from customers Minimum cash balance desired Projected cash excess (deficiency) Financing Borrowing Selling and Administrative Expenses: Utilities for office 550 5501 Accounts Receivable balance, March 31: MarchCredit sales, collection of March sales in April 1.100 S 1,110 Property taxes on office 2.280 Principal repayments 2,280 3,000 5,280 3,000 3,000 9,000 Total effects of financing Office salaries Total payments for Selling and Admin. expenses - X More info 3,550 3,550 12,380 Ending cash balance Total cash payments $ 11,300 10,600S 12,400 $ 34,300 Marcel's beginning cash balance is $4,000 and Marcel desires to maintain a minimum ending cash balance of $4,000. 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 11% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Acccount balances, March 31: Prepaid Property Taxes $ 4,050 $ 4,100 Accounts Payable Utilities Payable $ 1,400 Print Done Print Done