The treasurer of Calico Dreams Company has accumulated the following budget information for the first two months of the coming fiscal year:

	March		April
Sales	$450,000		$520,000
Manufacturing costs	290,000		350,000
Selling and administrative expenses	41,400		46,400
Capital additions	250,000		-

The company expects to sell about 35% of its merchandise for cash. Of sales on account, 80% are collected in full in the month of the sale and the remainder in the month following the sale. One-fourth of the manufacturing costs are paid in the month in which they are incurred and the other three-fourths in the following month. Depreciation, insurance, and property taxes represent $6,400 of the monthly selling and administrative expenses. Insurance is paid in February, and property taxes are paid yearly in September. A $40,000 installment on income taxes is to be paid in April. Of the remainder of the selling and administrative expenses, one-half is to be paid in the month in which they are incurred and the balance in the following month. Capital additions of $250,000 are paid in March.

Current assets as of March 1 are composed of cash of $45,000 and accounts receivable of $51,000. Current liabilities as of March 1 are accounts payable of $121,500 ($102,000 for materials purchases and $19,500 for selling and administrative expenses). Management desires to maintain a minimum cash balance of $25,000.

Prepare a monthly cash budget for March and April. If an amount box does not require an entry, leave it blank. Use the minus sign to indicate negative numbers or decrease in cash.

Calico Dreams Company Cash Budget For the Two Months Ending April 30

	March	April
Estimated cash receipts from:
Cash sales	$fill in the blank 1	$fill in the blank 2
Collections of accounts receivable	fill in the blank 3	fill in the blank 4
Total cash receipts	$fill in the blank 5	$fill in the blank 6
Estimated cash payments for:
Manufacturing costs	$fill in the blank 7	$fill in the blank 8
Selling and administrative expenses	fill in the blank 9	fill in the blank 10
Capital additions	fill in the blank 11	fill in the blank 12
Income taxes	fill in the blank 13	fill in the blank 14
Total cash payments	$fill in the blank 15	$fill in the blank 16
Cash increase (decrease)	$fill in the blank 17	$fill in the blank 18
Cash balance at beginning of month	fill in the blank 19	fill in the blank 20
Cash balance at end of month	$fill in the blank 21	$fill in the blank 22
Minimum cash balance	fill in the blank 23	fill in the blank 24
Excess (deficiency)