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Hex Compary requires a munimum cash balance of $4,600. When the company expects a cash defciency, it borrows the exact amount required on the first
Hex Compary requires a munimum cash balance of $4,600. When the company expects a cash defciency, it borrows the exact amount required on the first of the month. Expected excess cash is used to repay any amounts owed interest owed from the previous montris principal balance is paid on the first of the month at 17% per year. The company has already completed the budgeting process for the first quarter for cash receipts and cash payments for al expenses except interest Click the icon to view the completed budget lafoemation.) Hax does not have any outstanding debl en January 1. Complele the cash budpet for the first quacter for Hex Company. Round interest expense to the nearest whole doliar. For the Three Months Ended March 31
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