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Garden Depot is a retailer thot is preparing its budget for the upcoming fiscal year,...

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Accounting

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Garden Depot is a retailer thot is preparing its budget for the upcoming fiscal year, Management has prepared the following summary of its budgeted cash flows: The company's beginning cash balance for the upcoming fiscal year will be $36,000. The company requires a minimum cash balance of $10,000 and may borrow any amoumt needed from a local bank at a quarterly interest rate of 3%. The company may bortow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepore the company's cash budget for the upcoming fiscal year. Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign

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