. Haas borrows funds, in increments of $1,000, and repays them on the last day o
ID: 2447040 • Letter: #
Question
. Haas borrows funds, in increments of $1,000, and repays them on the last day of the month. Repayments may be made in any amount available. The company also pays its vendors on the last day of the month. It pays interest of 1 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $16,000 cash cushion.
CASH BUDGE
October November December
Beginning cash balance o
Plus: Cash receipts 157,500 481,500 577,800
Cash available 157,500 481,500 577,800
Less: Payments _____________________________________
For inventory purchases 235,755 364,221 354,588
selling & Administrative expenses 40,200 62,200 69,400
Purchase of store fixtures 170,0000 0 0
Inerest expenses 0 3,050 2,554
Total Budgeted payment 455,955 429,471 426,152
Suplus (shortage) (288,455) 52,029 151,648
Financing activity
Borrowing repayment ?
i NEED TO KNOW THE PAYMENT BORROWED
CASH BUDGE
October November December
Beginning cash balance o
Plus: Cash receipts 157,500 481,500 577,800
Cash available 157,500 481,500 577,800
Less: Payments _____________________________________
For inventory purchases 235,755 364,221 354,588
selling & Administrative expenses 40,200 62,200 69,400
Purchase of store fixtures 170,0000 0 0
Inerest expenses 0 3,050 2,554
Total Budgeted payment 455,955 429,471 426,152
Suplus (shortage) (288,455) 52,029 151,648
Financing activity
Borrowing repayment ?
Explanation / Answer
Amount of Payment borrowed can be easily calculated but the information you provided is merged with each other so give correct figures of the question. Amount given in the questions are not understandable at all so please give clear information.
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