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

Cash balance, March 1	$	17,070
Collections from customers		38,950
Paid to suppliers		22,800
Manufacturing overhead		6,600
Direct labor		8,500
Selling and administrative expenses		4,700

Walter pays all expenses in the month incurred. Manufacturing overhead includes $1,450 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 $7,500 during March. Walter can borrow in increments of $1,000 and would like to maintain a minimum cash balance of $10,000. Required: Prepare Walters cash budget for the month of March.

PLEASE EXPLAIN

Beginning Cash Balance Budgeted Cash Receipts Budgeted Cash Payments Preliminary Cash Balance Cash Borrowed Ending cash balance