Walter Company has the following information for the month of March:

Cash balance, March 1	$	18,120
Collections from customers		42,500
Paid to suppliers		23,500
Manufacturing overhead		7,300
Direct labor		8,850
Selling and administrative expenses		5,400

Walter pays all expenses in the month incurred. Manufacturing overhead includes $1,800 for machinery depreciation, but the amount for selling and administrative expenses is exclusive of depreciation. Additionally, Walter also expects to buy a piece of property for $8,200 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $12,000. Required: Prepare Walters cash budget for the month of March.