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 nach halanca decirer UJIT UVUMIL 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 Principal repayments Total effects of financing Ending cash balance Cash Receipts from Customers Total Total sales January February March 10,800 $ 14,600 $ 15,800 $ January February March 41,200 Total $ $ 6,480 2,160 $ 2,160 Cash Receipts from Customers: Accounts Receivable balance, January 1 JanuaryCash sales January-Credit sales, collection of January sales in January January-Credit sales, collection of January sales in February February-Cash sales February-Credit sales, collection of February sales in February FebruaryCredit sales, collection of February sales in March MarchCash sales March-Credit sales, collection of March sales in March Total cash receipts from customers 8,760 2,920 $ 2,920 9,480 3,160 15,560||$ 8,640||$ 13,840||$ 38,040 Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April 3,160 January February March Total $ Cash Payments Direct Materials: Accounts Payable balance, January 1 JanuaryDirect material purchases paid in February FebruaryDirect material purchases paid in March Total payments for direct materials $ $ 3,900 $ 4,500 4,500 $ 0 3,900 8,400 Direct Labor: Total payments for direct labor 2,600 3,500 4,300 10,400 550 550 1,100 Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead 3,720 3,720 3,720 550 550 4,820 Selling and Administrative Expenses: Utilities for office 550 550 1,100 550 550 1,100 2,040 Utilities for office Property taxes on office Office salaries Total payments for Selling and Admin. expenses 2,040 19,500 6,500 6,500 7,050 6,500 7,050 8,540 22,640 $ 14,860 $ 15,000 $16,400 $ 46,260 Total cash payments Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable $ 4,320 $ 4,400 1,100 X More Info Marcel's beginning cash balance is $3,000 and Marcel desires to maintain a minimum ending cash balance of $3,000. 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 17% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Print Done