Harp Company requires a minimum cash balance of $4100. When the company expects a cash deficiency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amount owed. Interest owed from the previous months.

Principal balance is paid on the first of the month at 10% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for all expenses except interest. Harp does not have Any outstanding debt on January 1. Complete the cast of budget for the first quarter for harp company, round interest expense to the nearest whole dollar.

1)Begin by preparing the cash budget for January, then prepare the cast budget for February and March. Finally, prepare the totals for the quarter.

(Click the icon to view the completed budget infornation.) Begin by preparing the cash budget for January, then prepare the cash budget for Fobruary and March. Finaly, prepare the totals for the quarter. (Complete alt irput fleids. Enter a "O" for any zero Harp Compary requires a minimum cash balance of \$4,100. When the company expects a cash deficlency, if bonrows the oxact amount required on the fint of the month. Expected excess caleh is used to repoy nry amounts owed. Interest owed from the provious month's principal balances is paid on the frat of the month at 10% per year. The compeny has alreaty completed the budgeting process for the first quarter for cash receipts and cash payments for al expenses excenpt interest. (Cick the icon to view the completod budget information) Harp does not have any outatanding debt on January 1. Complote the cass budget for the fist quarter for Happ Company. Round interest expense to the nearest whole dolar. Data table Begin by preparing the cash budget for January, then prepare the cash bude balances. Round at amounts entered into the cash budget to the nostest wit