Check my work 3 Garden Depot is a retailer that Is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: 10 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter points Total cash receipts $ 320, 000 $ 440, 000 $ 370, 060 $ 390,036 Total cash disbursements $ 372,060 $ 342,090 $ 332, 008 $ 352, 090 The company's beginning cash balance for the upcoming fiscal year will be $27,000. 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 eBook 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. Hint Required: Prepare the company's cash budget for the upcoming fiscal year (Repayments and interest should be indicated by a minus sign.) Ask Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Print Beginning cash balance Total cash receipts Total cash available References Total cash disbursements Excess (deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing Ending cash balance