9. Cash Budget :Prepare the cash budget Beginning cash is $30,000. The minimum required cash balance is $25,000. Money is borrowed for the amount needed at the end of the quarter, money is repaid at the end of the quarter, and interest is charged at 3% per quarter for the prior quarter's outstanding loan balance. There is no outstanding debt at the start of the year. Express Way Company Cash Budget For the Year Ended 12/31/2019 1st to 3rd gte 30,000 100,000 145,000 260,000 2nd att 4th gr total Begin Cash balance 275,000 780,000 Add cash Receipts Cash Available Less: Cash Payments 150,000 150,000 180,000 190.000 670,000 Less: Interest Expense prior outstanding loan End cash balance before financing transactions Financing Borrowing Principle Repayments Ending cash balance Cumulative borrowing