Use the following information to prepare cash budgets for Pineapple Company for June and July 2030. June 2030 July 2030 Cash Balance June 1st $ 50,000 Cash Receipts from Sales $450,000 $750,000 $400,000 $350,000 Cash Paid for Purchases Salaries Paid $200,000 $100,000 Rent Paid $8,000 $8,000 $25,000 Truck purchased (paid in cash) Income Taxes paid $10,000 Cash Disbursements for Interest Other Information: Pineapple Company had an agreement with the bank. Pineapple would be required to keep a minimum bank balance of $50,000. Pineapple could borrow up to $1,000,000, with an annual interest rate of 12% (1% per month). Interest was calculated on the beginning of the month loan balance. Borrowings can only be made in $1,000 increments. Pineapple Company would pay off loan whenever they have the available funds to do so. Loan Balance: June 1st, 2030: $200,000 Required:Remember: If the amount is a negative amount use ($) to indictate. Question 38 Not yet answered Marked out of 1.00 Flag question At the end of June 2030 what is Pineapple Company's Preliminary Cash Balance prior to additional borrowing or repayment of the loan? Answer: Question 39 Not yet answered Marked out of 1.00 Flag question At the end of June 2030 what is the amount that Pineapple Company must borrow in order to meet the required minimum cash balance? Answer: Question 40 Not yet answered Marked out of 1.00 P Flag question At the end of June 2030 what is the amount of Pineapple Company's Loan Balance? Answer: Question 41 Not yet answered Marked out of 1.00 P Flag question What is the amount of Interest on the loan that Pineapple Company must pay in July 2030