1. Relevant data from the Poster Companys operating budgets are:

   	Quarter 1	Quarter 2
   Sales	$208,460	$211,538
   Direct material purchases	115,300	120,832
   Direct labor	75,200	73,300
   Manufacturing overhead	25,200	25,400
   Selling and administrative expenses	33,400	33,500
   Depreciation included in selling and administrative	1,500	900
   Collections from customers	215,393	240,155
   Cash payments for purchases	114,290	119,253

   Additional data: Capital assets were sold in January for $9,000 and $4,600 in May. Dividends of $4,400 were paid in February. The beginning cash balance was $60,358 and a required minimum cash balance is $58,000.

   Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank.

   The Poster Company
   Cash Budget
   For the First Two Quarters
   	Quarter 1	Quarter 2
   	$	$
   Add: Cash Receipts
   Total Receipts	$	$
   Total Available Cash	$	$
   Less: Cash Payments
   Total Cash Payments	$	$
   Excess (Deficiency) of Available Cash Over Cash Disbursements	$	$
   Financing
   Ending cash balance	$	$

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