Please Describe/ show how you got the answers to the blanks.

Cash Budget &Short-Term Financing Presented below are partial October, November, and December cash budgets for Holidays Events. Loans are obtained in increments of $1,000 at the start of each month to maintain a minimum end-of month balance of $12,000. Interest is one percent simple interest (no compounding) per month, payable when the loan is repaid. Repayments are made as soon as possible, subject to the minimum end-of month balance Complete the short-term financing section of the cash budget and all missing figures. Use a negative sign with answers to indicate a cash disbursement. HOLIDAY EVENTS Partial Cash Budgets For the Months of October, November, and December October November December Total 12,000 Cash balance, beginning 35000 80,000 40,000 Collection on sales Cash available for operations 58,000 (50,000) (60,000) (40,000) Disbursements for operations Ending cash before borrowings or replacements Short-term finance: 8,000 100 X New loans Repayments Interest 12,000 Cash balance, ending