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Exercise 21-19 Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The...

Exercise 21-19

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 $32,430
Required minimum cash balance 27,025
Payment of income taxes (2nd quarter) 4,324
Professional salaries:
    1st quarter 151,340
    2nd quarter 151,340
Interest from investments (2nd quarter) 7,567
Overhead costs:
    1st quarter 83,237
    2nd quarter 108,100
Selling and administrative costs, including
$2,162 depreciation:
    1st quarter 54,050
    2nd quarter 75,670
Purchase of equipment (2nd quarter) 54,050
Sale of equipment (1st quarter) 12,972
Collections from clients:
    1st quarter 254,035
    2nd quarter 410,780
Interest payments (2nd quarter) 216


Prepare a cash budget for each of the first two quarters of 2017. (Do not leave any answer field blank. Enter 0 for amounts.)
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