Pisani 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. Only the cash budget remains to be done. It has collected the following information from parts of the master budget and elsewhere:

Prepare a cash budget for each of the first two quarters of 2022.

$ 30,000 20,000 Beginning cash balance Required minimum cash balance Payment of income taxes (2nd quarter) Professional salaries: 4,000 140,000 140,000 7,000 95,000 120,000 1st quarter 2nd quarter Interest from investments (2nd quarter) Overhead costs: 1st quarter 2nd quarter Selling and administrative expenses, including $3,000 of depreciation: 1st quarter 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) Collections from clients: 50,000 70,000 50,000 12,000 1st quarter 2nd quarter Interest on repayments (2nd quarter) 245,000 390,000 300