26. The Jazz Co. is working on its cash budget for November. The budgeted beginning cash balance is $24,000. Budgeted cash receipts total $177,000 and budgeted cash disbursements total $167,000. The desired ending cash balance is $50,000. If financing is needed to reach the desired goal, the company can borrow at the rate of 2% simple interest per month but must repay loan and principle at the end of the chosen month. Tab :1 Prepare a cash budget. Show your work if you want partial credit. Total points: 10 26B. Assume that the Jazz Co. has available cash in excess of expected needs in the month of December and plans to repay amount --principal and interest by December 31 using simple interest. Tab: 2 Calculate the total amount repaid to the bank