Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic is currently preparing the master budget for the first 2 quarters of 2017. All that remains in this process is the cash budget. The following information has been collected from other portions of the master budget and elsewhere.
| Beginning cash balance |
$34,260 |
| Required minimum cash balance |
28,550 |
| Payment of income taxes (2nd quarter) |
4,568 |
| Professional salaries: |
| 1st quarter |
159,880 |
| 2nd quarter |
159,880 |
| Interest from investments (2nd quarter) |
7,994 |
| Overhead costs: |
| 1st quarter |
87,934 |
| 2nd quarter |
114,200 |
| Selling and administrative costs, including |
| $2,284 depreciation: |
| 1st quarter |
57,100 |
| 2nd quarter |
79,940 |
| Purchase of equipment (2nd quarter) |
57,100 |
| Sale of equipment (1st quarter) |
13,704 |
| Collections from clients: |
| 1st quarter |
268,370 |
| 2nd quarter |
433,960 |
| Interest payments (2nd quarter) |
228 |
Prepare a cash budget for each of the first two quarters of 2017. (Do not leave any answer field blank. Enter 0 for amounts.)
What is the borrowings and repayments amount on the cash budget?