1 Quarter and are ydowe Total Cash Recipes $160,000 175.000 100.000 450,000 Total Cash Disbursements $170,000 250,000 100,000 320,000 The company's beginning cash balance for the upcoming fiscal year wil be $50,000. The company requires a minimum cash balance of $25,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow 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 Don't use 'S' or use" for negatives and cash payments. Be mindhul of letters when filling in answers. Don't leave any answer blank, Ino number should be included enter "0" Prepare the company's cash but for the upcoming cal year 01 02 03 00 Add Recept 16000 Total Care Disbursements 170000 Deficiency Cash Financing 185000 Borrowing Quarter Prepare the company's cash budget for the upcoming fiscal year. Q1 Q2 03 04 Year Beginning Cash 50000 Add: Cash Receipts 160000 Total Cash 210000 Less: Disbursements (1700001 Excess (Deficiency of Cash Available Financing 40000 (65000) Borrowings at Beg. of quarter) Repayments (at end of quarter) Interest (paid with repayments) Total Financing 50000 Ending Cash 10000 12000