Hunter Corp. requires a minimum $$20,000$ cash balance. If necessary, loans are taken to meet this

requirement at a cost of $1\%$ interest per month $($paid monthly$).$ If the ending cash balance exceeds

the minimum, the excess will be applied to repaying any outstanding loan balance. The cash

balance on April $1$ is $$20,000.$ Cash receipts other than for loans received for April, May, and June

are forecasted as $$58,000,$$$105,000,$ and $$112,000,$ respectively. Payments other than for loan or

interest payments for the same period are planned at $$75,000,$$$101,000,$ and $$105,000,$

respectively. At April $1,$ there are no outstanding loans.

Prepare a cash budget for April, May, June. You can round up your numbers to whole numbers on

calculations.

$*$Hint $-$ you will have an outstanding loan balance still at end of June.

$+5$ extra credit $-$ tell me what the outstanding loan balance is at the end of June.