Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter
Total cash receipts	$270,000	$420,000	$300,000	$320,000
Total cash disbursements	$323,000	$293,000	$283,000	$303,000

The companys beginning cash balance for the upcoming fiscal year will be $38,000. 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 company may 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 principal at the time it is repaid. For simplicity, assume that interest is not compounded.

Required:

Complete the company's cash budget for the upcoming fiscal year. (Cash deficiencies, disbursements, repayments, and interest should be indicated by a minus sign.)

Please help with the incorrect cells. Thank you.

Answer is complete but not entirely correct. Garden Depot Cash Budget 3rd 1st Quarter 2nd Quarter 4th Year Quarter Quarter $ 38,000 10,000 1128,250 270,000 420,000300,000320,0001,310,000 Beginning cash balance Total cash receipts Total cash available Less total cash disbursements Excess of cash available over disbursements Financing $287,500 308,000 430,000 411,250448,250 1,597,500 323,000 293,000283,000 303,0001,202,000 137,000 128,250 145,250 (15,000) 395,500 25,000 Borrowings Repayments Interest 0 (25,000) 0(750) 25,000 (25,750) $10,000 111,250 0 0 0 025,000 0(25,000) 0(750) (750) Total financing Ending cash balance 128,250 145,250S 394,750