Foyert Corp. requires a minimum $7,000 cash balance. Loans taken to meet this requirement cost...
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Foyert Corp. requires a minimum $7,000 cash balance. Loans taken to meet this requirement cost interest per month paid monthly Any excess cash is used to repay loans at month-end. The cash balance on October 1s $7.000 and the company has an outstanding loan of $3,000. Forecasted cash receipts (other than for loans received and forecasted cash payments other than forloan or interest payments) follow ot November December Cash receipts $23,000 $17.000 $21,000 cash payments 25.500 16,000 15.000 Prepare a cash budget for October November, and December (Negative balances and Loan repayment amounts of any) should be Indicated with minus sign. Round your final answers to the nearest whole dollar) FOYERT CORP Cash Budget For October November, and December October November Beginning cash balance $ 7.000 December Total cash available Preliminary cash balance Ending cash bolno Loan balance 5 3,000 Loan balance - Beginning of month Additional loan Dan repayment) Loan balance. End of month
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