Thornton Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks:

g: Thornton borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $27,000 cash cushion. Prepare a cash budget. Disregard the number in the table, those were what was placed in by student (not necessarily coorect)

Thornton borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 2 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $27,000 cash cushion. Prepare a cash budget. (Any repayments/shortage which should be indicated with a minus sign.) Show less Cash Budget October November December $ Section 1: Cash Receipts Beginning cash balance Add: Cash receipts Total cash available Section 2: Cash Payments Surplus (shortage) 160,000 160,000 448,000 448,000 399.828 582,400 982,228 (290,460) 41.812 153,486 (290,460) 41,812 153,486 Total budgeted disbursements Section 3: Financing Activities Borrowing (repayment) Interest expense Ending cash balance (130,460) 406,188 6,360 399,828 828,742 6,191 822,551 $ (130,460) $ $