Exercise 20-21 Cash budget LO P2 Foyert Corp. requires a minimum $7,500 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 $7,500 and the company has an outstanding loan of $3,500. 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 $23,500 November December 26,250 $17,500 16,500 $21,500 14,500 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.) 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.) Beginning cash balance: Total cash available FOYERT CORP Cash Budget For October, November, and December Preliminary cash balance Ending cash balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month October 7.500 Loan balance $ 3,500 November December