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Discuss the forecasted cash payments

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Question: Fabrice Corp. requires a minimum $6,000 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 October 1 is $6,000 and the company has an outstanding loan of $2,000. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Prepare a cash budget for October, November, and December. Round interest payments to the nearest whole dollar.

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Reference no: EM131539458

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