Exercise $22-21($Algo$)$ Cash budget LO P$2$

$0\mathrm{.}66$ points

Foyert Corporation requires a minimum $$6,700$ cash balance. Loans taken to meet this requirement cost $2\%$ interest per month $($paid at the end of each month$).$ Any preliminary cash balance above $$6,700$ 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.$ Budgeted cash receipts $($other than for loans received$)$ and budgeted cash payments $($other than for loan or interest payments$)$ follow.

$\backslash$table$[[,$October,November,December$],[$Cash receipts,$$22,700,$$$16,700,$$$20,700$