. Haas borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 1 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $16,000 cash cushion.

CASH BUDGE October November December Beginning cash balance o Plus: Cash receipts 157,500 481,500 577,800 Cash available 157,500 481,500 577,800 Less: Payments _____________________________________ For inventory purchases 235,755 364,221 354,588 selling & Administrative expenses 40,200 62,200 69,400 Purchase of store fixtures 170,0000 0 0 Inerest expenses 0 3,050 2,554 Total Budgeted payment 455,955 429,471 426,152 Suplus (shortage) (288,455) 52,029 151,648 Financing activity Borrowing repayment ?

i NEED TO KNOW THE PAYMENT BORROWED