Garden Depot is a retailer that provided the following budgeted cash flows for next year: Total cash receipts Total cash disbursements 1st Quarter $180,000 $260,000 2nd Quarter $330,000 $230,000 3rd Quarter $210,000 $220,000 4th Quarter $230,000 $240,000 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: Using Schedule 8 as your guide, prepare the company's cash budget for next year. Page 384

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 Page 384 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: Using Schedule 8 as your guide, prepare the company's cash budget for next year