Foyert Corp. requires a minimum $7,000 cash balance i necessary, loans are taken to moet this requirement at a cost of 1% interest per month paid monthly) Any excess cash is used to repay loans at month-end. The cash balance on Oclober 1 is $7,000 and the company has an outstanding loan of $3,000 Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow $23,000 $17,000 $21,000 25,500 16,000 15,000 Cash receipts Prepare a cash budget for October, November, and December, (Negative balance and Loan repayment amount should be indicated with minus sign.) FOYERT CORP Cash Budget For October, Novermber, and December October November December Beginning cash balance Cash receipts Total cash available Cash disbursements Interest on bank loan Preliminary cash balance Additional loan (loan repayment) Ending cash balance 7,000 S 23,000 30,000 25,500 7,000 17,000 24,000 16,000 7,000 21,000 28,000 15,000 30 4,470 $ 2.530 7,000 $ 7,945 S 945 7,000 $ 46 12,954 4,585 7,000 UERT Loan balance Loan balance -Beginning of month 5,530 S 5,530 Search the web and Windows acer