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Garden Depot is a retailer that provided the following budgeted cash flows for next year:...

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Accounting

Garden Depot is a retailer that provided the following budgeted cash flows for next year:
\table[[,1st Quarter,2nd Quarter,3rd Quarter,4th Quarter],[Total cash receipts,$210,000,$360,000,$240,000,$260,000],[Total cash disbursements,$281,000,$251,000,$241,000,$261,000]]
The company's beginning cash balance for next year will be $26,000. The company requires a minimum cash balance of $10,000 and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded.
Required:
Prepare the company's cash budget for next year.
Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign.
\table[[Garden Depot],[Cash Budget],[,1st Quarter,2nd Quarter,3rd Quarter,4th Quarter,Year],[Beginning cash balance],[Total cash receipts],[Total cash available],[Total cash disbursements],[Excess (deficiency) of cash available over disbursements],[Financing:],[Borrowings],[Repayments],[Interest],[Total financing],[Ending cash balance,,,,,]]
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