CH 22 HOMEWORK Seed 5 Exercise 22-21 Cash budget LO P2 25 pointe Foyert Corp. requires a minimum $7.500 cash balance Loans taken to meet this requirement cost 2% interest per month paid monthly). Any excess cash is used to repay loans at mooth-end. The cash balance on October 15 $7,500 and the company has an outstanding loan of $3.500. Forecasted cash receipts (other than forloans received) and forecasted cash payments (other than for loan or Interest payments) follow Shipped Lash receipts Cash payments October $23,500 26,250 November $17.500 16.5 Decenter $21.500 14.500 -550R Prepare a cash budget for October, November and December (Negative balonces and Loan repayment amounts if any) should be Indicated with minus sign. Round your final answers to the nearest while dollar.) Hi FOYERI CORP Cash Budget For October, November, and December October November December References Beginning cash balance $ 7,500 Total cash available Preliminary cash balance Ending cash balance Loan balance 5 3.500 Lan balance - Beginning month Additional loan loan repayment) Loan balance - End of month