Pur Centers, Inc., operates three fully equipped fitness centers, as well as a medical center that specializes in preventive medicine. The data that follow pertain to the corpo- ration's first quarter.
Cash receipts:
Memberships: December, 870; January, 880; February, 910; March, 1,030 Membership dues: $100 per month, payable on the 10th of the month (80 percent collected on time; 20 percent collected one month late)
Medical examinations: January, $35,610; February, $41,840; March, $45,610 Special aerobics classes: January, $4,020; February, $5,130; March, $7,130 High-protein food sales: January, $4,890; February, $5,130; March, $6,280
Cash payments: Salaries and wages: Corporate officers: 2 at $18,000 per month Physicians: 2 at $7,000 per month
Nurses: 3 at $2,900 per month Clerical staff: 2 at $1,500 per month
Aerobics instructors: 3 at $1,100 per month Clinic staff: 6 at $1,700 per month Maintenance staff: 3 at $900 per month Health-food servers: 3 at $750 per month
Purchases: Muscle-toning machines: January, $14,400; February, $13,800 (no purchases in March)
Pool supplies: $520 per month
Health food: January, $3,290; February, $3,460; March, $3,720 Medical supplies: January, $10,400; February, $11,250; March, $12,640
Medical uniforms and disposable garments: January, $7,410; February, $3,900; March, $3,450
Medical equipment: January, $11,200; February, $3,400; March $5,900 Advertising: January, $2,250; February, $1,190; March, $2,450 Utilities expense: January, $5,450; February, $5,890; March, $6,090
Insurance:
Fire: January, $3,470 Liability: March, $3,980
Property taxes: $3,760 due in January
Federal income taxes: Last year's taxes of $21,000 due in March Miscellaneous: January, $2,625; February, $2,800; March, $1,150
Pur Centers' controller anticipates that the beginning cash balance on January 1 will be $14,000.
Required:
Prepare a cash budget for Pur Centers for the first quarter of the year. Use January, Feb- ruary, March, and Quarter as the column headings.