cial budget-cash budget E22-35 Preparing a financial budget-cashb Learning Objective 6 illy Golf Park. You Kaw. Unfortunately, the backup or even a paper vet file. After entering the ion to reconstruct the You recently began a job as an accounting intern at Reill was to help prepare the cash budget for April and Me. with the budget file crashed, and you did not have a back ran a program to salvage bits of data from the budget fi data in the budget, you may have just enough information May ending cash bal. $25,000 May $ 16,700 79,900 E22 2.201 43,000 REILLY GOLF PARK Cash Budget Two Months Ended May 31 April Beginning cash balance Cash receipts Cash from sale of plant assets Cash available 114,700 Cash payments: Purchase of inventory Selling and administrative expenses 47,400 Interest expense Total cash payments 98,400 Ending cash balance before financing Minimum cash balance desired (25,000) Cash excess (deficiency) Financing: Borrowing Principal repayments Total effects of financing Ending cash balance 27,200 (25,000 first pays interest on its outs - 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 interest on its outstanding debt at the end of each month. The company pays all borrowed amounts at the end of the month with any excess cash above 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. 1 26 Prenaring a financial hudo