23 03:19:14 A company requires a minimum $11,200 cash balance at each month-end. If necessary, a loan is taken to meet this requirement at a cost of 1% interest per month (paid at the end of each month). Any preliminary cash balance above $11,200 is used to repay loans at month-end. The cash balance on March 1 is $11,400, and the company has no outstanding loans. Budgeted cash receipts from sales are: March, $25,000; April, $32,200; and May, $40,500. Budgeted cash payments (excluding loan or interest payments) are: March, $29,000; April, $30,100; and May, $32,200. Required: Prepare a cash budget for March, April, and May. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar. Beginning cash balance Add: Cash receipts from sales Total cash available Add: Cash payments for Total cash payments Preliminary cash balance Loan activity Ending cash balance Cash Budget $ March 11,400 0 April 0 May 0

A company requires a minimum $11,200 cash balance at each month-end. If necessary, a loan is taken to meet this requirement at a cost of 1% interest per month (paid at the end of each month). Any preliminary cash balance above $11,200 is used to repay loans at month-end. The cast balance on March 1 is $11,400, and the company has no outstanding loans. Budgeted cash receipts from sales are: March, \$25,000; April, \$32,200; and May, $40,500, Budgeted cash payments (excluding loan or interest payments) are: March, $29,000; April, $30,100; and May, $32,200. Required: Prepare a cash budget for March, April, and May. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar