You recently began a job as an accounting intern at Reed Golf Park. Your first task was to help prepare the cash budget for April and May. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a paper copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget

Reed Golf Park eliminates any cash deficiency by borrowing the exact amount needed from First Street Bank, where the current interest rate is 7% per year. Reed Golf Park first pays interest on its outstanding debt at the end of each month. The company then repays all borrowed amounts at the end of the month with any excess cash above the minimum required but after paying monthly interest expenses. Reed does not have any outstanding debt on April 1.
Complete the cash budget. Round interest expense to the nearest whole dollar.

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REED GOLF PARK Cash Budget Two Months Ended May 31 April May Beginning cash balance Cash receipts Cash from sale of plant assets Cash available Cash payments 18,500 ? 84,000 2,100 108,600 Purchase of inventory 46,000 Selling and administrative expenses 47,600 Interest expense Total cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deniciency) Financing: 99,600 ?i 22,100 (20,000) (20,000) Borrowing Principal repayments Total effects of financing Ending cash balance