More info Reference Reference P Do D A 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 additional information.) (Click the icon to view the cash payments Complete a cash budget for Maynard Company for January, February and March. (Complete all input field Maynard Company Cash Budget Beginning cash balance Cash receipts Cash available January, February, and March January February March Total 7000 7 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 ero balances, Round all amounts entered into the cash budget to the nearest whole dollar. Enter a cash deficiency with a mini More info - X Maynard's beginning cash balance is $7,000 and Maynard desires to maintain a minimum ending cash balance of $7,000. 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 15% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Reference Cash Receipts from Customers Total sales January February March Total $ 13,500 $ 15,900 $ 15,800 $ 45,200 January February March Total Cash Receipts from Customers: Accounts Receivable balance, January 1 January-Cash sales $ 9,450 January-Credit sales, collection of January sales in January 2,025 January-Credit sales, collection of January sales in February February-Cash sales $ 2,025 February-Credit sales, collection of February sales in February 11,130 2.385 March-Cash sales February-Credit sales, collection of February sales in March March-Credit sales, collection of March sales in March Total cash receipts from customers 2.385 11,060 2,370 11,475 $ 15.540 S 15,815 S 42,830 Accounts Receivable balance, March 31: March-Credit sales, colection of March sales in April 2.370 Print Done ference Cash Payments Direct Materials: Accounts Payable balance, January 1 January Direct material purchases paid in February February-Direct material purchases paid in March Total payments for direct materials Direct Labor: Total payments for direct labor Manufacturing Overhead: Utilities for plant Property taxes on plant Total payments for manufacturing overhead Selling and Administrative Expenses: Utilities for office Property taxes on office January February March Total $ 0 $ 4,000 $ 4,300 0 4,000 4,300 $ 8,300 2,900 3,600 3,500 10,000 850 850 1,700 3,720 3,720 3,720 850 850 5,420 240 240 480 1.200 1,200 Print Done