Walter Company has the following information for the month of March: Cash balance, March 1 Collections from customers Paid to suppliers Manufacturing overhead Direct labor Selling and administrative expenses $ 18,870 45,000 24,000 7,800 9, 100 5,900 Walter pays wages and other cash expenses in the month incurred. Manufacturing overhead includes $2,050 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 $8,700 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $17,000. Required: Prepare Walter's cash budget for the month of March. Beginning Cash Balance Budgeted Cash Receipts Budgeted Cash Payments Preliminary Cash Balance Cash Borrowed Ending cash balance