9. Temecula, Inc. budgets the following cash receipts and cash payments for the 3rd quarter of 2014:

	July	August	September	Total
Cash receipts	$25,000	$24,000	$41,000	$90,000
Cash payments	28,000	30,000	31,000	89,000
Cash flow	(3,000)	(6,000)	10,000	1,000

The firm has $5,000 of cash on hand at the end of June, and

- Management budgets an ending cash balance of $5,000 at the end of each month.

- Temecula has arranged short-term borrowing from its bank as needed.

- The agreement requires Temecula to borrow in $1,000 increments at the beginning of the months needed.

- Interest is 6% annually

- Temecula will repay principal in thousand dollar increments plus accrued interest on all borrowings at the end of months when funds permit.

Required: complete Temeculas short-term financing budget for the third quarter by completing the following table.

	July	August	September	Total
Beginning cash	$5,000			$5,000
Monthly cash flow	(3,000)
Net cash before financing	2,000
Borrowing
Repayment of borrowing
Interest payment
Ending cash