Question 1 Z Furniture is a retaller that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Quarter Total cash recelots 600000 Total cash 900000 disbursements 2 Quarter 1400000 920000 3 Quarter 840000 980000 A Quarter 820000 860000 The company's beginning cash balance for the upcoming fiscal year will be $60,000. The company requires a minimum cash balance of $50.000 and may borrow any amount needed from a local bank at a quarterly interest rate of 6%. 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| Option 1 Clear select