need help with the red box! its not 2400 either.

Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter $ 240,000 $ 102,000 Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest 2nd Quarter $ 390,000 $ 272,000 The company's beginning cash balance for the upcoming fiscal year will be $32,000. 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. Total financing Ending cash balance Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments and Interest should be Indicated by a minus sign.) Garden Depot Cash Budget Answer is complete but not entirely correct. 3rd Quarter $ 270,000 $ 262,000 240,000 272.000 302.000 (30,000) 1st 2nd Quarter Quarter $32.000 s 10.000 s 85.000 270,000 355,000 262.000 93,000 40,000 40,000 $10.000 3 4th Quarter $ 290,000 $ 282,000 390,000 400,000 272,000 120,000 (40,000) (2,400) (42.400) $85.600 3rd Quarter 0 $93.000 4th Quarter 93.000 O $ 101.000 Year 290,000 383,600 1.222.000 282.000 101.000 3 32.000 1,100,000 1.118.000 10000 104.000 40.000 (40,000) (2.400) (42.400) s 101.000 300 38 Garden Depot is a retaller that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter $ 240,000 $ 102,000 Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest 2nd Quarter $ 390,000 $ 272,000 The company's beginning cash balance for the upcoming fiscal year will be $32,000. 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. Total financing Ending cash balance Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments and Interest should be Indicated by a minus sign.) Garden Depot Cash Budget Answer is complete but not entirely correct. 3rd Quarter $ 270,000 $ 262,000 240,000 272.000 302.000 (30,000) 1st 2nd Quarter Quarter $32.000 s 10.000 s 85.000 270,000 355,000 262.000 93,000 40,000 40,000 $10.000 3 4th Quarter $ 290,000 $ 282,000 390,000 400,000 272,000 120,000 (40,000) (2,400) (42.400) $85.600 3rd Quarter 0 $93.000 4th Quarter 93.000 O $ 101.000 Year 290,000 383,600 1.222.000 282.000 101.000 3 32.000 1,100,000 1.118.000 10000 104.000 40.000 (40,000) (2.400) (42.400) s 101.000 300 38