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 or a negative ending balance.

HOLIDAY EVENTS

Partial Cash Budgets

For the Months of October, November, and December

October November December Total

Cash balance, beginning $$26,000$ Answer

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Collection on sales $38,00043,00083,000$ Answer

Cash available for operations Answer

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Disbursements for operations $(53,000)(63,000)(40,000)$ Answer

Ending cash before borrowings or replacements Answer

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Short$-$term finance:

New loans Answer

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Repayments Answer

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Interest Answer

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Cash balance, ending Answer

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