Chapter 8 Part 2 Assign. Project-Cash Budget-5 points-C 5 1 Total cash receipts 1st Quarter 2nd Quarter $ 210,000 $ 360,000 Total cash disbursements $ 281,000 $ 251,000 points Skipped eBook Hint References Saved 3rd Quarter 4th Quarter $ 240,000 $ 241,000 $ 260,000 $ 261,000 The company's beginning cash balance for the upcoming fiscal year will be $26,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Cash deficiency, repayments and interest should be indicated by a minus sign.) Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Mc Graw Hill Interest Total financing Ending cash balance Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year 0 0 0 0 0 0 0 0 0 0 0 0 $ 0 $ 0 $ 0 $ 0 < Prev 1 of 1 Next > Help Save & Exit Submit Check my work