you recently began a job as an accountant intern at mountain adventures. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with the budget file crashed, and you did not have a back up or even a hardcopy. you ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget.

res dget ch X * More Info Fe Mountain Adventures eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 6%. Mountain Adventures pays interest on its outstanding debt at the end of each month. The company also repays all borrowed amounts at the end of the month as cash becomes available Print Done 100 the amount is a net outflow. Round interest expense to the nearest whole dollar.) Mountain Adventures Combined Cash Budget February and March February Beginning cash balance $ 16,600 Plus: Cash collections 0 Plus: Cash from sale of plant assets $ Total cash available 107,000 Less: Cash payments (purchase inventory) Less: Cash payments (operating expenses) 47,500 98,400 Total cash payments (1) Ending cash balance before financing Minimum cash balance desired 24,000 Cash excess (deficiency) Financing Plus: New borrowings Financing: Plus: New borrowings Less: Debt repayments Less: Interest payments (2) Total effects of financing Ending cash balance (1) + (2)