%E9-35A (similar to) Question Help You recently began a job as an accounting intern at Regis Adventures. Your first task was to help prepare the cash budget for February and March Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget. (Click the icon to view information on borrowing cash.) Requirements Regis Adventures Combined Cash Budget February and March then link Check Answer Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "0" in the app of financing with a minus sign when the amount is a net outflow. Round interest expense to the neares Regis Adventures Combined Cash Budget February and March February March Beginning cash balance $ 16,300 23000 Plus: Cash collections 90,000 80,000 0 Plus: Cash from sale of plant assets 2,400 $ Total cash available 106,300 105400 Tess: Cash navments (nurchase inventorv) $ 50.500 $ 41 400 GA TOU,Vuo TuTu (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "0" in the appropriate input fim of financing with a minus sign when the amount is a net outflow. Round interest expense to the nearest whole dollar.) Total cash available Less: Cash payments (purchase inventory) $ 50,500 $ 41,400 47,600 Less: Cash payments (operating expenses) $ 98,100 Total cash payments (1) Ending cash balance before financing $ 8,200 $ 28,700 23,000 23,000 Minimum cash balance desired (14,800) Cash excess (deficiency) Financing: (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "0" in the appropriate of financing with a minus sign when the amount is a net outflow. Round interest expense to the nearest whole du Minimum cash balance desired 23,000 (14,800) Cash excess (deficiency) Financing: Plus: New borrowings 14,800 Less: Debt repayments 0 0 Less: Interest payments (2) Total effects of financing 14,800 $ 23,000 Ending cash balance (1) + (2) $ Regis Adventures eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 7%. Regis Adventures pays interest on its outstanding debt at the end of each month. The company also repays all borrowed amounts at the end of the month as cash becomes available