Question 6 - HW Chapter 8 - Cor X * Course Hero X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Felearning.uh.edu%252Fwebapps%252Fportal%252Fframes... HW Chapter 8 Saved Help Save & Exit Submit Check my work 6 You have been hired by Ashton Corporation, a retailer, to assist in preparing the annual cash budget. The following information is available regarding the quarterly budgeted cash flows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 280,000 $ 430,000 $ 310,000 $ 330,000 16.7 Total cash disbursements $ 330,000 $ 300,000 $ 290, 000 310,000 points X 02-27:26 The company's beginning cash balance for the upcoming fiscal year will be $40,000. 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 eBook are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Hint Required: Prepare the company's cash budget for the upcoming fiscal year. (Cash deficiency, repayments and interest should be indicated by a Print minus sign.) References Ashton Corporation Cash Budget 1st Quarter| 2nd Quarter 3rd Quarter | 4th Quarter Year Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Mc Graw Hill Type here to search O N 9 0 9:31 PM 4/17/2021Question 6 - HW Chapter 8 - Cor X * Course Hero X ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Felearning.uh.edu%252Fwebapps%252Fportal%252Fframes... HW Chapter 8 Saved Help Save & Exit Submit Check my work 6 Required: Prepare the company's cash budget for the upcoming fiscal year. (Cash deficiency, repayments and interest should be indicated by a minus sign.) 16.7 Ashton Corporation points Cash Budget 1st Quarter| 2nd Quarter 3rd Quarter | 4th Quarter Year 02-27:20 Beginning cash balance Total cash receipts eBook Total cash available Total cash disbursements Hint Excess (deficiency) of cash available over disbursements Print Financing: References Borrowings Repayments Interest Total financing Ending cash balance Mc Graw Hill 9:31 PM Type here to search O N 9 0 4/17/2021