Business, 03.04.2021 01:00 whocares1819

Foyert Corp. requires a minimum $30,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $30,000, and the company has an outstanding loan of $10,000. 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 $ 110,000 $ 80,000 $ 100,000
Cash payments 120,000 75,000 80,000
Prepare a cash budget for October, November, and December. (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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Foyert Corp. requires a minimum $30,000 cash balance. Loans taken to meet this requirement cost 1% i...