Please help with the following cash budget and please indicate your calculations so I may...
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Accounting
Please help with the following cash budget and please indicate your calculations so I may understand the flow of this sheet- thanks in advance! :)
Foyert Corporation requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid at the end of each month). Any preliminary cash balance above $8,000 is used to repay loans at month-end. The cash balance on October 1 is $8,000, and the company has an outstanding loan of $4,000. 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. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar
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