042434 Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year Management has prepared the following summary of its budgeted cash flows Check my work Total cash receipts Total cash disbursements 230,000 300,000 240,000 275,000 The company's beginning cash balance for the upcoming fiscal year will be $30.000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may bonow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded Required: Prepare the company's cash budget for the upcoming fiscal year (Repayments and interest should be indicated by a minus sign) Garden Depot CB 2nd Quarter 3rd Qua $ 30,000 $ Total cash receipts 230,000 10,000 300,000 $ 77.300 200.000 4th Quarter 2300 200,000 30,000 1,100,000 Tutal cash available 250,000 300.000 337300 32.300 1.180,000 Tatal cash dubur (255.000) (285.000 255,000 275.0001 (1.090.000) Excess (deficiency) of cash available over disbursements (35,000) 125.000 82300 87.300 00000 Financing Donwings 0 of of of of Inter Total financing Ending cash beta $ 35.000) 125.000 2300 300 7.12 Next >