S&P Enterprises needs a cash budget for March. The following information is available.

Data January

Actual January and February and expected March sales:

Cash sales $$1,600$

Sales on account $25,000$

Total Sales $$26,600$

Accounts Receivable Collections:

Month of sale $15\%$

Month following sale $60\%$

Second month following sale $22\%$

Uncollectible $3\%$

Accounts payable for inventory purchases, March $1$ balance $$10,500$

Budgeted inventory purchases in March $$23,500$

Inventory payments:

Month of purchase $60\%$

Month following purchase $40\%$

Total budgeted selling & administrative expenses in March $($including depreciation$)$ $$12,500$

Budgeted depreciation in March $($included in total selling and admin exp$)$ $$3,200$

Other budgeted cash disbursements in March

Equipment purchases $$14,000$

Dividends to be paid $$2,000$

Minimum cash balance to be maintained $$10,000$

March $1$ cash balance $$11,500$

March $1$ outstanding borrowings $$0$

March $1$ interest due $$0$