paid in the month in which they are incurred and the balance in the following month. All sales and administrative expenses are paid in the month incurred. is expected to be declared in February and paid in March. Management desires to maintain a minimum cash balance of $35,000. balance or a cash deficiency as a negative number. Assume 360 days per year for interest calculations. Shoe Mart Inc. Cash Budget For the Three Months Ending March 31 \begin{tabular}{|c|c|c|c|} \hline & January & February & March \\ \hline \multicolumn{4}{|l|}{ Estimated cash receipts from: } \\ \hline Cash sales & $ & $ & $ \\ \hline Collection of accounts receivable & & & \\ \hline Dividends & & & \\ \hline Total cash receipts & $ & $ & $ \\ \hline Estimated cash payments for: & & & \\ \hline Manufacturing costs & $ & $ & $ \\ \hline Selling and administrative expenses & & & \\ \hline Capital expenditures & & & \\ \hline Other purposes: & & & \\ \hline Note payable (including interest) & & & \\ \hline Income tax & & & \\ \hline Dividends & & & \\ \hline Total cash payments & $ & $ & $ \\ \hline Cash increase (decrease) & $ & $ & $ \\ \hline Cash balance at beginning of month & & & \\ \hline Cash balance at end of month & $ & $ & $ \\ \hline Minimum cash balance & & & \\ \hline Excess (deficiency) & $ & $ & \\ \hline \end{tabular} paid in the month in which they are incurred and the balance in the following month. All sales and administrative expenses are paid in the month incurred. is expected to be declared in February and paid in March. Management desires to maintain a minimum cash balance of $35,000. balance or a cash deficiency as a negative number. Assume 360 days per year for interest calculations. Shoe Mart Inc. Cash Budget For the Three Months Ending March 31 \begin{tabular}{|c|c|c|c|} \hline & January & February & March \\ \hline \multicolumn{4}{|l|}{ Estimated cash receipts from: } \\ \hline Cash sales & $ & $ & $ \\ \hline Collection of accounts receivable & & & \\ \hline Dividends & & & \\ \hline Total cash receipts & $ & $ & $ \\ \hline Estimated cash payments for: & & & \\ \hline Manufacturing costs & $ & $ & $ \\ \hline Selling and administrative expenses & & & \\ \hline Capital expenditures & & & \\ \hline Other purposes: & & & \\ \hline Note payable (including interest) & & & \\ \hline Income tax & & & \\ \hline Dividends & & & \\ \hline Total cash payments & $ & $ & $ \\ \hline Cash increase (decrease) & $ & $ & $ \\ \hline Cash balance at beginning of month & & & \\ \hline Cash balance at end of month & $ & $ & $ \\ \hline Minimum cash balance & & & \\ \hline Excess (deficiency) & $ & $ & \\ \hline \end{tabular}