Exercise 20-21 Cash budget LO P2 Foyert Corp. requires a minimum $6,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (pald monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 Is $6,000 and the company has an outstanding loan of $2,000. Forecasted cash recelpts (other than for loans recelved) and forecasted cash payments (other than for loan or Interest payments) follow. October November December $16,888 Cash receipts Cash payments $22,880 24,880 $28,900 16,888 15,800 Prepare a cash budget for October, November, and December. (Negetlve 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 December Beginning cash balance 6,000 Total cash available Preliminary cash balance Ending cash balance Loan balance Loan balance Beginning of month Additional loan (loan repayment) Loan balance End of month