Foyert Corporation requires a minimum $6.600 cash bolance. Loans taken to meet this requirement cost...
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Accounting
Foyert Corporation requires a minimum $6.600 cash bolance. Loans taken to meet this requirement cost 18 interest per month (paid at the end of each month). Any preliminary cash balance above $6.600 is used to repay lonns at month-end. The cash balance on October 1 is $6,600, and the company has an outstanding loan of $2,600. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow Prepare a cash budget for October, November, and December. (Negotive bolences and Loan repoyment amounts (if any) should be Indicated with minus sign. Round your finol answers to the nearest whole dolloe.) indicated with minus sign. Round your final answers to the nearest whole dollor.)
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