Pletcher Dental Clinic is a medium-sized dental service specializing in family dental care. The clinic...
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Accounting
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
$41,460
Required minimum cash balance
34,550
Payment of income taxes (2nd quarter)
5,528
Professional salaries:
1st quarter
193,480
2nd quarter
193,480
Interest from investments (2nd quarter)
9,674
Overhead costs:
1st quarter
106,414
2nd quarter
138,200
Selling and administrative costs, including
$2,764 depreciation:
1st quarter
69,100
2nd quarter
96,740
Purchase of equipment (2nd quarter)
69,100
Sale of equipment (1st quarter)
16,584
Collections from clients:
1st quarter
324,770
2nd quarter
525,160
Interest payments (2nd quarter)
276
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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