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Garden Depot is a retailer that provided the following budgeted cash flows for next year: 1 st Quarter 2 nd Quarter 3 rd Quarter 4

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 $ 200,000 $ 350,000 $ 230,000 $ 250,000
Total cash disbursements $ 274,000 $ 244,000 $ 234,000 $ 254,000
The companys beginning cash balance for next year will be $24,000. 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.

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