Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2020. All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere.

Beginning cash balance		$34,500
Required minimum cash balance		28,750
Payment of income taxes (2nd quarter)		4,600
Professional salaries:
1st quarter		161,000
2nd quarter		161,000
Interest from investments (2nd quarter)		8,050
Overhead costs:
1st quarter		88,550
2nd quarter		115,000
Selling and administrative costs, including
$2,300 depreciation:
1st quarter		57,500
2nd quarter		80,500
Purchase of equipment (2nd quarter)		57,500
Sale of equipment (1st quarter)		13,800
Collections from clients:
1st quarter		270,250
2nd quarter		437,000
Interest payments (2nd quarter)		230

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

Please Explain/give answers and workings.