13 You recently began a job as an accounting intern at River Golf Park. Your first task was to help prepare the cash budget for April and May. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a paper copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget. (Click the icon to view the cash budget.) River Golf Park eliminates any cash deficiency by borrowing the exact amount needed from First Street Bank, where the current interest rate is 6% per year. River Golf Park first pays interest on its outstanding debt at the end of each month. The company then repays all borrowed amounts at the end of the month with any excess cash above the minimum required but after paying monthly interest expenses. River does not have any outstanding debt on April 1. Complete the cash budget. Round interest expense to the nearest whole dollar (Complete all input fields. Enter a "0" for zero balances. Enter cash deficiencies with a minus sign or parentheses. Enter the net total effects of financing with a minus sign when the amount is a net outflow. Round interest expense to the nearest whole dollar.) River Golf Park Cash Budget Two Months Ended May 31 April May Beginning cash balance $ 18,300 Cash receipts 80,100 2,000 Cash from sale of plant assets 0 Cash available 108,500 Cash payments: 41,600 Purchase of inventory Selling and administrative expenses 46,500 Interest expense 97,100 Total cash payments Ending cash balance before financing 22,000 (20,000) Minimum cash balance desired (20,000) Cash excess (deficiency) Financing Borrowing Principal repayments Total effects of financin Ending cash balance 1: Data Table River Golf Park Cash Budget Two Months Ended May 31 April May Beginning cash balance $ 18,300 $ ? Cash receipts ? 80,100 Cash from sale of plant assets 0 2,000 Cash available 108,500 ? Cash payments: 2 41,600 Purchase of inventory Selling and administrative expenses 46,500 ? Interest expense ? ? Total cash payments 97,100 ? Ending cash balance before financing 22,000 (20,000) (20,000) Minimum cash balance desired Cash excess (deficiency) Financing ? Borrowing 2 ? Principal repayments ? ? 2 2 Total effects of financing ? ? Ending cash balance