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. $36,600 30,500 4,880 170,800 170,800 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 $2.440 depreciation: 8,540 93,940 122,000 1st quarter 61,000 85,400 61,000 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) Collections from clients: 1st quarter 14,640 286,700 2nd quarter 463,600 Interest payments (2nd quarter) 244 Prepare a cash budget for each of the first two quarters of 2020. 1st Quarter 2nd Quarter Cash Balance $ 36600 $ 25001 Receipts ns from Clients 286700 46360 quipment 12000 int Interest 7001 reipts 247000 38700 Available 277000 41200 Disbursements inal Salaries 170800 i 170800 of Income Taxes 4000 nd Administrative Costs 48000 68001 nt Purchase 50001 d Costs PORNO UTI 70000 100001 bursements 258000 36200 ficiency) of Cash Available Over Cash Disbursements 19000 5000 Borrowings 6000 Repayments 0 -6206 sh Balance A 25000 $ 43801