Business, 27.05.2020 19:06 jhill685467

Foyert Corp. requires a minimum $6,700 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $6,700 and the company has an outstanding loan of $2,700. 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 $ 22,700 $ 16,700 $ 20,700 Cash payments 25,050 15,700 15,300 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 $6,700 cash balance. Loans taken to meet this requirement cost 2% in...

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