Business, 22.04.2020 19:08 carolyvillanueva
Foyert Corp. requires a minimum $6,900 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 $6,900 and the company has an outstanding loan of $2,900. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. October November DecemberCash receipts $ 22,900 $ 16,900 $ 20,900 Cash disbursements 25,350 15,900 15,100 Required:1. Prepare a cash budget for October, November, and December.
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Foyert Corp. requires a minimum $6,900 cash balance. If necessary, loans are taken to meet this requ...
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