Garden Depot is a retailer that provided the following budgeted cash flows for next year:
st Quarter nd Quarter rd Quarter th Quarter
Total cash receipts $ $ $ $
Total cash disbursements $ $ $ $
The companys beginning cash balance for next year will be $ The company requires a minimum cash balance of $ and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded.
Required:
Prepare the companys cash budget for next year.
Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign.
