Harry's Carryout Stores has eight locations. The firm wishes to expand by two more stores and needs a bank loan to do this. Mr. Wilson, the banker, will finance construction if the firm can present an acceptable three-month financial plan for January through March. The following are actual and forecasted sales figures:

Cash at the beginning of January is $82,000, and the minimum desired cash balance is $77,000.

Prepare a schedule of monthly cash budget with borrowings and repayments for January, Feb., and March

January February March

Total cash receipts: $258750 $297500 $335000

Total cash payment: 276600 300500 319000

Net cash flow: (17850) (3000) 16000

Beginning cash 82000 77000 77000

balance

Cumulative cash 64150 74000 93000

balance

Monthly loan or 12850 3000 ?_____ Dont know how to compute the number:(

repayment

Cumulative loan 12850 15850 0

balance

Ending cash 77000 77000 ?_____

balance