Forest Outfitters is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:

1st Quarter

2nd Quarter

3rd Quarter

4th Quarter

Total cash receipts	$ 396,000	$ 676,000	$ 427,000	$ 504,000
Total cash disbursements	$ 527,000	$ 408,000	$ 444,000	$ 487,000

The company's beginning cash balance for the upcoming fiscal year will be $62,300. The company requires a minimum cash balance of $31,500 and may borrow any amount needed from a local bank at a quarterly interest rate of 1.6%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid.

Forest Outfitters Cash Budget
	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Year
Cash balance, beginning	$	$	$	$	$
Total cash receipts
Total cash available
Less total cash disbursements
Excess (deficiency) of cash available over disbursements
Financing:
Borrowings (at beginning)
Repayments (at ending)
Interest
Total financing
Cash balance, ending	$	$	$	$	$