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SBIR OSTI is a camera manufacturer that want to make budget for the 2022. The followings are budgeted cash flows for 2022.: SBIR OSTI 's
SBIR OSTI is a camera manufacturer that want to make budget for the 2022. The followings are budgeted cash flows for 2022.: SBIR OSTI 's beginning cash balance for 2022 will be $20,000. . SBIR borrows money from bank at a interest rate of 3% for one quarter. If SBIR has an idle money, company repay any part of its loans at the end of quarter. When principal amount is repaid, interest should be paid also at that time. A minimum cash balance of $10,000 is required. Required: Prepare cash budget of SBIR's FY 2022
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