Zhang industries is preparing a cash budget for june. the company has $25,000 cash at the beginning of june and anticipates $95,000 in cash receipts and $111,290 in cash disbursements during june. the company has no loans outstanding on june 1. compute the amount the company must borrow, if any, to maintain a $20,000 cash balance.

At the beginning of 2014, winston corporation issued 10% bonds with a face value of $2,000,000. these bonds mature in five years, and interest is paid semiannually on june 30 and december 31. the bonds were sold for $1,852,800 to yield 12%. winston uses a calendar-year reporting period. using the effective-interest method of amortization, what amount of interest expense should be reported for 2014? (round your answer to the nearest dollar.)