some of my answers are wrong. thanks

7. Garden Depot area is preparing to budget for the upcoming cal year Management has prepared the following summary of its budgeted Chow ist eine Talas 1.200.000 19.10 2. $250, THAL 1,0 14,00 $ 234,600 The company's beginning cash balance of the upcoming year w 524,000 The company requires a memunca batance of 50.000 and may now any amount om tocabanata quarterly interest rate of the company muy bonowany won the beginning of a quarter and may repay it ons, or any part of sons, at the end of any quarter interest payments we dut on the time is repard For Spectrumenterest is not compounded Required Prepare the company cat taget for the upcoming calya (Cath decency, repayments and interest should be indicated by si Answer is complete Gareth unt 0001 -590.000 Ver 2400 2400 1.000 10 2002 T500 5.160 254 7.000 5000 be I. O 0 LO Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year, Management has prepared the following summary of its budgeted cash flows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 200,000 $ 350,000 $ 230,000 $ 250,000 Total cash disbursements $ 274,000 5 244,000 $ 234,000 $ 254,000 The company's beginning cash balance for the upcoming fiscal year will be $24.000. 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 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. (Cash deficiency, repayments and Interest should be indicated by a minus sign.) Year Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Beginning cash balance $ 24,000 s 10,000 $ 55,100 $ 51,000 5 24.000 Total cash receipts 200.000 350,000 230.000 250,000 1,030,000 Total cash available 224.000 360.000 285,100 301.000 Total cash disbursements 274.000 244,000 234.000 254.000 1,000,000 Excess (deficiency) of cash available over disbursements (50,000) 116,000 51,100 47,000 Financing Borrowings 60.000 80,000 Repayments (60,000) (60,000) Interest (900) 900 Total financing 60.000 (60,900) 0 (900) Ending cash balance $10.000 $ 55,100 $ 51,100 $ 47,000 $ 47,100