Please include your calculations as well.

Exercise 20-20 Cash budget LO P2 Foyert Corp. requires a minimum $30,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $30,000 and the company has an outstanding loan of $10,000. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. October November December Cash receipts $ 110,000 $ 80,000 $ 100,000 Cash disbursements 120,000 75,000 80,000 Prepare a cash budget for October, November, and December. (Negative balance and Loan repayment amount should be indicated with minus sign.) Beginning cash balance $ 30,000 _- Total cash available ___ Loan balance - Beginning of month $ 10,000 _ Additional loan (loan repayment) ___