Foyert Corp. requires a minimum $6,500 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 $6,500 and the company has an outstanding loan of $2,500. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.

	October			November			December
Cash receipts	$	22,500		$	16,500		$	20,500
Cash payments		24,750			15,500			15,500

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.)

FOYERT CORP.
Cash Budget
For October, November, and December
	October	November	December
Beginning cash balance	$6,500	$6,500	$6,500
Cash receipts	22,500	16,500	20,500
Total cash available	29,000	23,000	27,000
Cash payments	24,750	15,500	15,500
Interest on bank loan
Preliminary cash balance
Additional loan (loan repayment)
Ending cash balance
Loan balance
Loan balance - Beginning of month	$2,500
Additional loan (loan repayment)
Loan balance - End of month