The following is a cash budget. Assume need a minimum cash balance of 6,000 at the start of each month. All borrowing are made in even 1,000 increments (not repayments). No borrowing or investments exist at the beginning of July. Interest is 1.5% per month.

	July	August	September (difficult
Beg Cash Balance	$7,400	? (d)	? (k)
Cash Receipts	16,400	20,200	? (l)
Total cash avail.	? (a)	? (e)	41,000
Cash Disbursements
Payments inventory	? (b)	7,800	11,400
Wages paid	10,000	? (f)	12,000
S&A payments	8,000	9,200	? (m)
Interest payment	0	?(g)	?(n)
Total Disbursement	20,600	26,105	?(o)
Financing:
Cash surplus (shortage)	? (c)	? (h)	(p)
Borrowing (repayment)	3,000	? (i)	(1,000)
Ending cash balance	6,200	? (j)	? (q)

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