please answer incorrect

Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 340,000 $ 460,000 $ 390,000 $ 410,000 $ 386,000 $ 356,000 $346,000 $ 366,000 The company's beginning cash balance for the upcoming fiscal year will be $24,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.) Answer is complete but not entirely correct. Beginning cash balance Garden Depot Cash Budget 1st 2nd Quarter Quarter $ 24,000 $ 10,000 340,000 | 460,000 364,000 470,000 386,000 356,000 (22,000) 114,000 3rd Quarter 102.080 X 390,000 492,080 346,000 146,080 4th Quarter Year 146.080 X $ 24,000 410,000 1,600,000 556,080 1,624,000 366,000 1,454,000 190,080 170,000 Total cash receipts Total cash available Total cash disbursements Excess of cash available over disbursements Financing: Borrowings Repayments Interest Total financing 32,000 (10,000) X (1,920) (11,920) $ 102,080 32,000 (10,000) (1,920) 20,080 $ 190,080 0 0 32,000 $ 10,000 Ending cash balance 146,080 190,080