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Pharoah Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the budget for the first two quarters

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Pharoah Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the budget for the first two quarters of 2022 . It still needs to do only the cash budget. It has collected the following information from parts of the master budget and elsewhere: Overhead costs: 1st quarter. 94,900 2nd quarter 121,000 Selling and administrative expenses, including $3,000 depreciation: 1stquarter2ndquarterPurchaseofequipment(2ndquarter)Saleofequipment(1stquarter)50,50069,30050,00011,900 Collections from clients: 1stquarter2ndquarter246,400391,300 Interest on repayments (2nd quarter) 274 Prepare a cash budget for each of the first two quarters of 2022

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