Garden Depot is a retailer that provided the following budgeted cash flows for next year: 1st Quarter $ 230,000 $ 295,000 3rd Quarter $ 260,000 $ 255,000 Total cash receipts Total cash disbursements The company's beginning cash balance for next year will be $30,000. 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. Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: 2nd Quarter $ 380,000 $ 265,000 Borrowings Repayments Interest Total financing Ending cash balance Garden Depot Cash Budget 4th Quarter $ 280,000 $ 275,000 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 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 $30,000. 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