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Question 4 Not yet graded /0 pts Azul Corporation requires a...

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Accounting

Question 4
Not yet graded /0 pts
Azul Corporation requires a minimum $6,400 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid at the end of each month). Any preliminary cash balance above $6,400 is used to repay loans at month-end. The cash balance on October 1 is $6,400, and the company has an outstanding loan of $2,400. Budgeted cash receipts (other than for loans received) and budgeted cash payments (other than for loan or interest payments) follow.
October November December
Cash receipts $22,400$16,400$20,400
Cash payments 24,600,15,400,15,600
Create a cash budget for October, November, December and the quarter.
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