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Business, 14.07.2020 01:01, matthi4687
Foyert Corp. requires a minimum $7,900 cash balance. If necessary, loans are taken to meet this requirement at a cost of 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $7,900 and the company has an outstanding loan of $3,900. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. October November December Cash receipts $ 23,900 $ 17,900 $ 21,900 Cash disbursements 26,850 16,900 14,100 Prepare a cash budget for October, November, and December. (Negative balance and Loan repayment amount should be indicated with minus sign.)
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Foyert Corp. requires a minimum $7,900 cash balance. If necessary, loans are taken to meet this requ...
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