Question 3 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 2017. 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 Required minimum cash balance Payment of income taxes (2nd quarter) Professional salaries: $39,180 32,650 5,224 1st quarter 2nd quarter 182,840 182,840 9,142 Interest from investments (2nd quarter) Overhead costs: 1st quarter 2nd quarter 100,562 130,600 Selling and administrative costs, including $2,612 depreciation 65,300 91,420 65,300 15,672 1st quarter 2nd quarter Purchase of equipment (2nd quarter) Sale of equipment (1st quarter) Collections from clients: st quarter 2nd quarter 306,910 496,280 261 Interest payments (2nd quarter) Prepare a cash budget for each of the first two quarters of 2017. (Do not leave any answer field blank. Enter 0 for amounts.) PLETCHER DENTAL CLINIC Cash Budget