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Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its bodprted ch
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its bodprted ch for: 1st Quarterand Quarterrd Quarterth Quarter Total cash receipts $190,000 $340,000 $220.000 5240,000 Total cash disbursementa$287,000 227.000 $227,000 $257,000 The company's beginning cash balance for the upcoming focal year will be $26.000. The company requires a minimum cash balance of $10,000 and may borrow any amounted from a bank ata quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay ons, or part of its ans, at the end of any querer Werest payments are due on any principal at the time it is repaid. For simplicity, sume that interest is not compounded Required: Prepare the company's cash budget for the upcoming facal year (Repayments, and Interest, should be indicated by a minun sign) 1. How much is the Borrowing in 18 quarter 2. How much is the Excess deficiency of cash available in 2nd quarter 3. What is the Ending Cash Balance in the 4th quarter 4. What is the Total Financing for the Year
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