Cash budget:
								Quarter
					April	May	June	Total
Beginning cash balance					$ 74,000	$ 50,000	$ 50,000	$ 174,000
Add cash receipts:
Cash collections from sales					436,000	695,000	865,000	1,996,000
Total cash available					$ 510,000	$ 745,000	$ 915,000	$ 2,170,000
Less cash disbursements:
Purchases of inventory					258,000	318,000	244,000	820,000
Sales commissions					26,000	40,000	20,000	86,000
Advertising					200,000	200,000	200,000	600,000
Rent					18,000	18,000	18,000	54,000
Salaries					106,000	106,000	106,000	318,000
Utlities					7,000	7,000	7,000	21,000
Equipment						16,000	40,000	56,000
Dividends Paid					15,000			15,000
Total disbursements					$ 630,000	$ 705,000	$ 635,000	$ 1,970,000
Cash excess (deficiency)					$ (120,000)	$ 40,000	$ 280,000	$ 200,000
Financing:
Borrowing					170,000	10,000	-	180,000
Repayment (principal)							(180,000)	(180,000)
Interest payment							(5,300)	(5,300)
Total financing					170,000	10,000	(185,300)	(5,300)
Ending cash balance					$ 50,000	$ 50,000	$ 94,700	$ 194,700
Need Help in the below Section: 12 Percent Anual Interest Rate
Calculations for June financing section:
Cash available for repayment							230000
Interest on quarterly borrowing							-6900
Interest payment (all or nothing)							-6900
Remaining cash available for principal repayment							236900
Remaining cash available rounded down							236900
Total borrowing for April and May					170,000	10,000
Total borrowing for April and May rounded down					170,000	10,000
Principal repayment							-180000