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. $31,200 26,000 4.160 145,600 145,600 7.280 Beginning cash balance Required minimum cash balance Payment of income taxes (2nd quarter) Professional salaries: 1st quarter 2nd quarter Interest from investments (2nd quarter) Overhead costs: 1st quarter 2nd quarter Selling and administrative costs, including $2,080 depreciation 1st quarter 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) Collections from clients 1st quarter 2nd quarter Interest payments (2nd quarter) 80,080 104,000 52,000 72.800 52.000 12.480 244,400 395,200 208 Prepare a cash budget for each of the first two quarters of 2020