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 2020. It still needs to do only the cash budget. It has collected the following information from parts of the master budget and elsewhere:

	Beginning cash balance	$ 30,100
	Required minimum cash balance	20,000
	Payment of income taxes (2nd quarter)	3,900
	Professional salaries:
	1st quarter	140,200
	2nd quarter	140,200
	Interest from investments (2nd quarter)	7,000
	Overhead costs:
	1st quarter	95,700
	2nd quarter	118,600
	Selling and administrative expenses, including
	$3,000 depreciation:
	1st quarter	49,600
	2nd quarter	70,300
	Purchase of equipment (2nd quarter)	50,400
	Sale of equipment (1st quarter)	12,100
	Collections from clients:
	1st quarter	245,800
	2nd quarter	388,700
	Interest on repayments (2nd quarter)	290

Prepare a cash budget for each of the first two quarters of 2020.

PISANI DENTAL CLINIC Cash Budget For the Two Quarters Ending June 30, 2020 Quarters Total Beginning cash balance $ $ 30100 $ Add : Cash receipts Collections from clients 245800 388700 634500 Sale of equipment 12100 12100 Interest from investments 7000 7000 Total receipts 257900 395700 653600 Total available cash 288000 Less : Disbursements Income tax 0 3900 3900 Overhead 95700 118600 214300 Selling and administrative expenses Professional salaries 140200 140200 280400 Purchase of equinment 504nn 50400 Purchase of equipment 50400 50400 Total disbursements Excess of Cash Available Over Cash Disbursements Financing Borrowing Less : Repayment Less : Interest expense Total financing Ending cash balance