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Comprehensive Cash Budget Kay Centers, Inc., operates three fully equipped fitness centers, as well as a medical center that specializes in preventive medicine. The data that follow pertain to the corporation's first quarter. Cash Receipts: Memberships December January February March 870 880 910 1.030 Membership Dues: $100 per month, payable on the 10th of the month ( 80 percent collected on time; 20 percent collected one month late) Medical Examinations January February March $ $ $ 37,610 39,840 45,610 Special Aerobics Classes January February March $ $ $ 2.020 7,130 9.130 High-Protein Food Sales: January February March $ $ $ 4,890 5,130 4,280 Cash Payments: Salaries & Wages: Corporate Officers Physicians Nurses Clerical Staff Aerobics instructors Clinic Staff Maintenance Staff Health Food Servers 2 at $18,000 per month 2 at $7,000 per month 3 at $2,900 per month 2 at $1,500 per month 3 at $1,100 per month 6 at $1,700 per month 3 at $900 per month 3 at $750 per month 14.400 13.800 O No purchases in March $520 per month 5,290 3.460 3,720 8.400 11,250 12.640 Cash Payments (continued): Purchases: Muscle-Toning Machine January $ February $ March $ Pool Supplies Health Food January $ February $ March $ Medical Supplies January $ February $ March $ Medical Uniforms & Disposable Garments January $ February $ March $ Medical Equipment January $ February $ March $ Advertising January $ February $ March $ Utilities Expense January $ February $ March $ 7.410 3.900 3,450 11.200 3,400 5,900 2.250 1,190 2,450 5,450 5,890 6.090 Insurance Fire Liability $ $ 3,740 January 3,610 March $ $ 3,760 Duo in January 18.000 Last year's taxes Due in March Property Taxes Federal Income Taxes Miscellaneous January February March $ $ $ 2,455 1.050 2,235 Pur Centers' controller anticipates that the beginning cash balance on January 1 will be $11,100. The minimum cash balance requirement at the end of each month is $1,000. REQUIRED Prepare a cash budget for Kay Centers for the first quarter of the year. Use January, February, March, and Quarter as the column headings

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