Foyert Corporation requires a minimum $7,500 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid at the end of each month). Any preliminary cash balance above $7,500 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. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments October $ 23,500 26,250 November $ 17,500 16,500 December $ 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.) FOYERT CORPORATION Beginning cash balance i Total cash available Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance Beginning of month Additional loan (loan repayment) Loan balance-End of month Cash Budget October November December $ 7,500 Loan balance $ 3,500