Prepare Cash Budget For 3 Months Windsor Corporation expects the following cash receipts and disbursements during the first quarter of 2016 (receipts exclude new borrowings and disbursements exclude interest payments on borrowings since January 1, 2016):

		January	February	March
Cash receipts		$430,000	$440,000	$400,000
Cash disbursements		390,000	520,000	420,000

The expected cash balance at January 1, 2016, is $75,000. Windsor wants to maintain a cash balance at the end of each month of at least $60,000. Short-term borrowings at 1% interest per month will be used to accomplish this, if necessary. Borrowings (in multiples of $1,000) will be made at the beginning of the month in which they are needed, with interest for that month paid at the end of the month. Prepare a cash budget for the quarter ended March 31, 2016.

Windsor Corporation Cash Budget for the Quarter Ended March 31, 2016
	January	February	March
Beginning cash balance	$	$	$
Cash receipts
Short-term borrowings
Cash available
Cash disbursements
Interest payment
Total cash disbursements
Ending cash balance	$	$	$