Blue Lagoon Corporation is projecting a cash balance of $30,917 in its December 31, 2011, balance sheet. Blue Lagoon's schedule of expected collections from customers for the first quarter of 2012 shows total collections of $180,126. The schedule of expected payments for direct materials for the first quarter of 2012 shows total payments of $40,917. Other information gathered for the first quarter of 2012 is: sale of equipment $3,246; direct labor $70,226, manufacturing overhead $35,388, selling and administrative expenses $45,190; and purchase of securities $11,719. Blue Lagoon wants to maintain a balance of at least $25,000 cash at the end of each quarter.
Complete the cash budget for the first quarter. (List amounts from largest to smallest e.g. 10, 5, 3, 2. If answer is zero, please enter 0. Do not leave any fields blank.)
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