Sheridan 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 $32,100 Required minimum cash balance 26,750 Payment of income taxes (2nd quarter) 4,280 Professional salaries 1st quarter 149,800 2nd quarter 149,800 Interest from investments (2nd quarter) 7,490 Overhead costs: 1st quarter 82,390 2nd quarter 107,000 Selling and administrative costs, including $2,140 depreciation: 1st quarter 53,500 2nd quarter 74,900 Purchase of equipment (2nd quarter) 53,500 Sale of equipment (1st quarter) 12,840 Collections from clients: Ist quarter 251,450 2nd quartier 406,600 Interest payments (2nd quarter) 214 Prepare a cash budget for each of the first two quarters of 2020. SHERIDAN DENTAL CLINIC Cash Budget For the Two Quarters Ending June 30, 2020 19 Quarter Quarter 2nd Beginning Cash Balance 32100 26750 Add Total Receipts Investment Interest Sale of Equipment Collections from Clients