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.