Solution-Prepare a cash budget for November and December

Prepare a cash budget for November and December

Reference no: EM132562978

Question - Cash Budget

Foyert Corp. requires a minimum $30,000 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 $30,000 and the company has an outstanding loan of $10,000. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.

	October	November	December
Cash receipts	$110,000	$80,000	$100,000
Cash disbursements	120,000	75,000	80,000

Required - Prepare a cash budget for October, November, and December.

Reference no: EM132562978

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Prepare a cash budget for November and December

Reference no: EM132562978

Reference no: EM132562978

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