Lindor Enterprises projects sales for the first three months of the year to be: $10,300 in January. $12,100 in February, and $13,000 in March. Cash receipts are expected to be: $8,480 in January, $11,440 in February, and $12,920 in March. They anticipate the following cash payments: All costs are paid in the month incurred except: direct materials, which are paid in the month following the purchase; utilities, which are paid in the month after incurred; and property taxes. which are prepaid for the year on January 2. The Accounts Payable and Utilities Payable accounts have a zero balance on January 1. Also, Lindor Enterprises beginning cash balance is $3,000 and they desire to maintain a minimum ending cash balance of $3,000. Lindor Enterprises borrows cash as needed at the beginning of each month in increments of $1,000 and repays the amounts borrowed in increments of $1,000 at the beginning of months when excess cash is available. The interest rate on borrowed amounts is 7% per year. Interest is paid at the beginning of the month on the outstanding balance from the previous month. Complete a Cash Budget for Lindor Enterprises 
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