HW Chapter 8 i Saved Help Save & Exit Submit Check my work 6 Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: 16.7 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter points Total cash receipts $ 200, 000 $ 350, 000 $ 230,000 $ 250,000 Total cash disbursements $ 274, 000 $ 244, 000 $ 234, 000 $ 254,000 Skipped The company's beginning cash balance for the upcoming fiscal year will be $24,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Book Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, interest, and cash deficiencies should be indicated Hint by a minus sign.) Garden Depot Print Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Beginning cash balance References Total cash receipts Total cash available 0 0 0 Total cash disbursements Excess (deficiency) of cash available over disbursements 0 0 0 Financing: Borrowings Repayments Interest Total financing 0 0 0 0 Ending cash balance $ o $ 0 $ 0 $ Mc Graw Hill