Preparing a cash budget Pope Company has budgeted the following cash flows:

Pope had a $36,000 cash balance on April 1. The company desires to maintain a $60,000 cash cushion before paying interest. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1.50 percent per month. Pope pays its vendors on the last day of the month also.
Required Prepare a cash budget.