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Exercise 8-7 (Algo) Cash Budget [LO8-8] Garden Depot is a retailer that is preparing is...

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Exercise 8-7 (Algo) Cash Budget [LO8-8] Garden Depot is a retailer that is preparing is budget for the upcoming fiscal year. Managoment has prepared the following summary of its budgeted cash flows: The company's beginning cash balance for the upcoming fiscal year wit be $22,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The compary moy borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principol at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the compary's cash budget for the upcoming fiscal year. (Repayments, interest, and cash deficiencies should be indicated by a minus sign

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