PHipe company. is preparing their cash budget for 2020. They have already estimated their cash receipts and cash payments for each quarter of the year. Their quarterly receipts and payments in dollars are shown below. T Q1 100,000 120,000 Total Cash Receipts Total Cash Payments Q2 150,000 160,000 Q3 320,000 250,000 [ 200.000 Q4 300,000 240,000 Phine Company currently has $20,000 in their bank. They never want to have less than $15,000 in the bank each quarter. If they have less than $15,000, they will borrow against a line of credit to ensure they always have the minimum cash required. If they have more than the minimum, they will pay off any outstanding loans. Prepare the cash budget based on the information given. Points will be assigned for maximum and proper use of Excel formulas. Brick Bros. Cash Budget For the Year Ending December 31, 2020 Q2 Q3 Q1 24