Exercise 07-21 Cash budget LO P2 Foyert Corp. requires a minimum $6,100 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $6,100 and the company has an outstanding loan of $2,100. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments October $22,100 24,150 November $16,100 15,100 December $20,100 15,900 Prepare a cash budget for October November, and December (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) FOYERT CORP. Cash Budget For October, November, and December October November Beginning cash balance $ 6.100 December Total cash available Preliminary cash balance Ending cash balance Loan balance $ 2.100 Loan balance - Beginning of month Additional loan (loan repayment) Lan halanefndin month FOYERT CORP. Cash Budget For October, November, and December October November December Beginning cash balance $ 6,100 Total cash available Preliminary cash balance Ending cash balance Loan balance $ 2,100 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month