View Policies Current Attempt in Progress Monty Corporation is projecting a cash balance of $32,070 in its December 31, 2016. balance sheet. Monty's schedule of expected collections from customers for the first quarter of 2017 shows total collections of $197.765. The schedule of expected payments for direct materials for the first quarter of 2017 shows total payments of $45.967. Other information gathered for the first quarter of 2017 is sale of equipment $3,207: direct labor $74,830, manufacturing overhead $37.415, selling and administrative expenses $48,105, and purchase of securities $14,966, Monty wants to maintain a balance of at least $26,725 cash at the end of each quarter. Prepare a cash budget for the first quarter. (Do not leave any answer field blank. Enter for amounts) MONTY CORPORATION Cash Budget > >