2 14 Foyert Corporation requires a minimum $7,300 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid at the end of each month). Any preliminary cash balance above $7,300 is used to repay loans at month-end. The cash balance on October 1 is $7,300, and the company has an outstanding loan of $3,300. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. points October November Cash receipts Cash payments $ 23,300 25,950 $ 17,300 16,300 December $ 21,300 14,700 eBook Hint Prepare a cash budget for October, November, and December. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) Print Beginning cash balance References Total cash available Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month FOYERT CORPORATION Cash Budget October November December $ 7,300 0 0 0 Loan balance $ 3,300