Question: Saved Chapter 20 Exercise Help Save & Exl Chec 10 Foyert Corp. requires a minimum $7,000 cash balance. Loans taken to meet this requirement cost

Saved Chapter 20 Exercise Help Save & Exl Chec 10 Foyert Corp. requires a minimum $7,000 cash balance. Loans taken to meet this requirement cost 1% Interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $7,000 and the company has an outstanding loan of $3,000. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow 0.5 points Skipped Cash receipts Cash payments October $23,000 25,500 November $17,000 16,000 December $21,000 15,000 Prepare a cash budget for October, November, and December (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar) eBook FOYERT CORP. Cash Budget For October, November, and December October November December Beginning cash balance $ 7,000 Total cash available Preliminary cash balance Ending cash balance Loan balance $ 3,000 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month

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