Fabrice Corp. requires a minimum $6,200 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on October 1 is $6,200 and the company has an outstanding loan of $2,200. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.
October November December
Cash receipts $ 22,200 $ 16,200 $ 20,200
Cash disbursements 24,300 15,200 15,800
Prepare a cash budget for October, November, and December. (Input all amounts as positive values. Leave no cells blank - be certain to enter "0" wherever required. Round your intermediate calculations and final answers to the nearest dollar amount. Omit the "$" sign in your response.)
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