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The company's beginning cash balance for the upcoming fiscal year will be $45,000. The company requires a minimum cast balance of $10.000 and may borrow
The company's beginning cash balance for the upcoming fiscal year will be $45,000. The company requires a minimum cast balance of $10.000 and may borrow any amount needed from a local bank at a quartery inserest rate of 36. 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 guarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded Pequired: Prepare the company's cash budpet for the upcoming fiscel year. Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign
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