at Reilly Golf Park. Yo lav. Unfortunately, the con -22-35 Preparing a financial budget-cash budget You recently began a job as an accounting intern at R to help prepare the cash budget for April and May. n with the budget file crashed, and you did not have a ba rogram to salvage bits of data from the budget file data in the budget, you may have just enough information ve a backup or even a pape file. After entering the mation to reconstruct the a apa REILLY GOLF PARK Cash Budget Two Months Ended May 31 April May $ 16,700 5 79,900 2,200 114,700 43,000 47,400 Beginning cash balance Cash receipts Cash from sale of plant assets Cash available Cash payments: Purchase of inventory Selling and administrative expenses Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing: Borrowing Principal repayments Total effects of financing Ending cash balance 98,400 27,200 (25,000) (25,000) Master Bud Reilly Golf Park eli from First Street Golf Park eliminates any cash deficiency by borrowing the exact amount needed First Street Bank, where the current interest rate is 6% per year. Reilly Golf Park us interest on its outstanding debt at the end of each month. The company repays all borrowed amounts at the end of the month with any excess cash above she minimum required but after paying monthly interest expenses. Reilly does not have any outstanding debt on April 1. Complete the cash budget. Round interest expense to the nearest whole dollar. 26 Prenaring a financial h