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?A company requires a minimum $ 1 0 , 4 8 0 ?cash balance at each month - end. If necessary, a loan is taken
?A company requires a minimum $ ?cash balance at each monthend. If necessary, a loan is taken to meet this requirement at a cost of ?interest per month paid at the end of each month ?Any preliminary cash balance above $ ?is used to repay loans at monthend. The cash balance on March ?is $ ?and the company has no outstanding loans. Budgeted cash receipts from sales are: March, $; April, $; and May, $ ?Budgeted cash payments excluding loan or interest payments ?are: March, $; April, $; and May, $
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.
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