Maynard 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 Maynard Company for January, February and March. (Complete all input fields. Enter a "O" 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.) Maynard Company Cash Budget January, February, and March January Beginning cash balance $ 4,000 Cash receipts 12,870 Cash available 16,870 Cash payments: Purchases of direct materials 0 Direct labor 3,100 Manufacturing overhead 3,600 Selling and administrative expenses 6,800 Interest expense Total cash payments 13,500 Ending cash balance before financing 3,370 (4,000) Minimum cash balance desired 630 Projected cash excess (deficiency) Financing: 5000 Borrowing Total sales $ 14,300 $ 13,800 $ 12,900 $ 41,000 January February March Total $ 11,440 1,430 Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash 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 February-Credit sales, collection of February sales in March $ 1,430 11,040 1,380 $ 1,380 10,320 March-Cash sales March-Credit sales, collection of March sales in March 1,290 $ 12,870 $ 13,850 $ 12,990$ 39,710 Total cash receipts from customers Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April 1.290 $ 0 Accounts Payable balance, January 1 January-Direct material purchases paid in February February-Direct material purchases paid in March $ 4,000 $ 3,900 3,900 $ Total payments for direct materials 0 4,000 7,900 Direct Labor: Total payments for direct labor 3,100 3,200 3,700 10,000 950 950 1,900 Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead 3,600 3,600 3,600 950 950 5,500 320 320 640 Selling and Administrative Expenses: Utilities for office Property taxes on office Office salaries Total payments for Selling and Admin. expenses 1,800 1,800 5,000 5,000 5,000 15,000 6,800 5,320 5,320 17,440 Manufacturing Overhead: Utilities for plant 950 950 1,900 3,600 Property taxes on plant Total payments for manufacturing overhead 3,600 3,600 950 950 5,500 Selling and Administrative Expenses: Utilities for office 320 320 640 1,800 1,800 Property taxes on office Office salaries Total payments for Selling and Admin. expenses 5,000 5,000 5,000 15,000 6,800 5,320 5,320 17,440 Total cash payments $ 13,500 $ 13,470 $ 13,870 $ 40,840 $ $ 4,050 Acccount balances, March 31: Prepaid Property Taxes Accounts Payable Utilities Payable $ 4,400 $ 1,270 Maynard's beginning cash balance is $4,000 and Maynard desires to maintain a minimum ending cash balance of $4,000. Maynard 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 10% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month