Exercise $20-21($Algo$)$ Cash budget LO P$2$

Foyert Corporation requires a minimum $$7,100$ cash balance. Loans taken to meet this requirement cost $2\%$ interest per month $($paid at the end of each month$).$ Any preliminary cash balance above $$7,100$ is used to repay loans at month$-$end. The cash balance on October $1$ is $$7,100,$ and the company has an outstanding loan of $$3,100.$ Budgeted cash recelpts $($other than for loans recelved$)$ and budgeted cash payments $($other than for loan or interest payments$)$ follow.

$\backslash$table$[[,$October,Novenber,Decenber$],[$Cash receipts,$$23,160,$$$17,100,$$$21,100$