Garden Depot is a retailer that provided the following budgeted cash flows for next year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 180,000 $ 330,000 $ 210,000 $ 230,000 Total cash disbursements $ 260,000 $ 230,000 $ 220,000 $ 240,000 The companys beginning cash balance for next year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded. Required: Prepare the companys cash budget for next year.

Garden Depot is a retailer that provided the following budgeted cash flows for next year: The company's beginning cash balance for next year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded. Required: Prepare the company's cash budget for next year. Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign