The Big Sister Company is in a seasonal business and prepares quarterly budgets. Its fiscal year runs from January 1 through December 31. Production occurs only in the first quarter (January to March), but sales take place throughout the year. The sales forecast for the coming year shows the following:

First quarter		$480,000		Third quarter		$480,000
Second quarter		315,000		Fourth quarter		480,000

There are no cash sales, and the beginning balance of receivables is expected to be collected in the first quarter. Subsequent collections are two-thirds in the quarter when sales take place and one-third in the following quarter. The company makes materials purchases valued at $396,000 in the first quarter, but makes no purchases in the last three quarters. It makes payment when it purchases the materials. Direct labour of $354,000 is incurred and paid only in the first quarter. Factory overhead of $342,000 is also incurred and paid in the first quarter, and is at a standby level of $101,000 during the other three quarters. Selling and administrative expenses of $35,000 are paid each quarter throughout the year. Big Sister has an operating line of credit with its bank at an interest rate of 5% per annum. The company plans to keep a cash balance of at least $10,000 at all times, and it will borrow and repay in multiples of $5,000. It makes all borrowings at the beginning of a quarter, and makes all payments at the end of a quarter. It pays interest only on the portion of the loan that it repays in a quarter. The company plans to purchase equipment in the second and fourth quarters for $71,000 and $148,000, respectively. The cash balance on January 1 is $25,000 and accounts receivable total $148,000. Prepare a cash budget for the year. Show receipts, disbursements, the ending cash balance before borrowing, the amounts borrowed and repaid, interest payments, and the ending cash balance. (Round answers to the nearest whole dollar, e.g. 5,275.)

PLEASE CAN YOU LET ME KNOW HOW TO DO THE BLANK SPACES??

Cash Budget For the Four Quarters Ending December 31 Quarter Beginning cash balance 25000 10000 Add 4 : Receipts Accounts receivable 148000 Credit sales-1st 320000 160000 Credit sales-2nd 210000 Credit sales-3rd Credit sales-4th Total cash receipts 468000 370000 Total cash available 493000 380000 Less Disbursements Material purchases 396000 Factory overhead 342000 101000 10100 Selling and administrative expenses 35000 35000 3500 Direct labour 354000 i Purchase of equipment 71000 Total cash disbursements 1127000 207000 13600 Excess (Deficiency) of cash receipts over cash disbursements -634000 173000 Lash Budget For the Four Quarters Ending December 31 Quarter 1 2 3 $ 25000 $ 10000 $ 12000 12737.5020000 148000 320000 160000 210000 105000 0 320000 160000 320000 468000 370000 425000 480000 493000 380000 396000 i 342000 101000 101000 101000 i 35000 35000 35000 35000 1 354000 i 0 71000 i 148000 i 1127000 i 207000 136000 284000 sh disbursements -634000 173000 Excess (Deficiency) of cash receipts over cash disbursements -634000 173000 Financing Borrowing 644000 Less Repayment Interest expense Total financing 644000 Ending cash balance 10000 esh disbursements -634000 173000 644000 1850001 644000 10000 A