Cash Budget & Short-Term Financing Presented below are partial October, November, and December cash budgets for Holidays Events. Loans are obtained in increments of $1,000 at the start of each month to maintain a minimum end-of-month balance of $12,000. Interest is 1% simple interest (no compounding) per month, payable when a loan payment is made. Repayments are made as soon as possible, subject to the minimum end-of-month balance. Complete the short-term financing section of the cash budget and all missing figures. Use a negative sign with answers to indicate a cash disbursement or a negative ending cash balance. HOLIDAY EVENTS Partial Cash Budgets For the Months of October, November, and December October November December Total Cash balance, beginning $25,000 $ 12,000 $ 12,000 $ Collection on sales 100,000 90,000 140,000 330,000 Cash available for operations 125,000 102,000 152,000 355,000 Disbursements for operations (115,000) (110,000) (115,000) 340,000 x Ending cash before borrowings or replacements 10,000 (8,000) 37,000 15,000 Short-term finance: New loans 2,000 20,000 22,000 Repayments (22,000) (22,000) (220) X Cash balance, ending 12,000 12,000 14,540 x $ 14,540 x 25,000 0 0 Interest 0 0 220 X $ $ $