kaylaaguilar6538
17.04.2020 •
Business
Hunter Corp. requires a minimum $15,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). If the ending cash balance exceeds the minimum, the excess will be applied to repaying any outstanding loan balance. The cash balance on January 1 is $15,000. Cash receipts other than for loans received for January, February, and March are forecasted as $30,000, $87,000, and $85,000, respectively. Payments other than for loan or interest payments for the same period are planned at $38,500, $85,000, and $65,000, respectively at January 1, there are no outstanding loans. Prepare a cash budget for January, February, and March
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