Question 13 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 $31,800 Required minimum cash balance 26,500 Payment of income taxes (2nd quarter) 4,240 Professional salaries: 1 st quarter 148,400 2nd quarter 148,400 Interest from investments (2nd quarter) 7,420 Overhead costs: 1st quarter 81,620 2nd quarter 106,000 Selling and administrative costs, including $2,120 depreciation: 1 st quarter 53,000 2nd quarter 74,200 Purchase of equipment (2nd quarter) 53,000 Sale of equipment (1st quarter) 12,720 Collections from clients: 1st quarter 249,100 2nd quarter 402,800 Interest payments (2nd quarter) 212 Prepare a cash budget for each of the first two quarters of 2020. PLETCHER DENTAL CLINIC Cash Budget 1st Quarter 2nd Quarter $ > > { { { {