Fabrice Corp. requires a minimum $6,000 cash balance. If necessary, loans are taken to meet this requirement at a cast of 1% interest per month (paid monthly). Any excess 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 receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Prepare a cash budget for October, November, and December. Round interest payments to the nearest whole dollar.

	October	November	December
Cash receipts	$22,000	$16,000	$20,000
Cash disbursement	$24,000	$15,000	$16,000

Do not use dollar signs, do not use comma's, use ( ) to indicate a subtraction or negative number.

Cash Budget
	October	November	December
Beginning cash balance
Add cash receipts
=Cash available
Less interest expense
Less other expenses
= Cash surplus/shortage
Borrowing (Repayment)
Ending Cash Balance