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Discuss the cash budget

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Question: Kaizen Corp. requires a minimum $8,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400 and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) are:

1605_July.png

Prepare a cash budget for July, August, and September. Round interest payments to the nearest whole dollar.

Reference no: EM131539455

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