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A company has prepared the following partially completed Cash Budget for the first quarter. You can assume that cash collections from customers and total
A company has prepared the following partially completed Cash Budget for the first quarter. You can assume that cash collections from customers and total cash disbursements were calculated correctly. The company has also provided the following information: The company requires a minimum balance of $8,000 at the end of each month. .The interest rate is 12% per year. Borrowings are made in increments of $1,000 at the beginning of each month. Repayments are made at the end of each month. Interest is paid only when repayment of the principal is made. The company had no loans outstanding on December 31. Required: Complete the Cash Budget by entering a number in each of the boxes. Do not leave any boxes blank, but enter a zero instead of a blank. DO NOT USE $ BUT DO USE COMMAS IN YOUR ANSWERS. ENTER NEGATIVE NUMBERS IN (PARENTHESIS) - DO NOT USE A MINUS SIGN FOR NEGATIVE NUMBERS. CASH BUDGET Month Quarter Jan Feb Mar
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