Question

plz do J or K or even both

4. The Right Target, Inc., a marketing research and consulting firm, is working on a cash budget for July to December 2017. The staff has projected the following cash collections and payments: Collections Payments Cash Sales Credit Sales Purchases Wages Miscellaneous Expenses July $10,000 $20,000 $15,000 $6000 $1,500 August $12,000 $24,000 $18,000 $7,200 $2,000 Scotcmcr14.00000020400 2 7500 Octobs $16.000 $2,000 $24,000 $9,600 $3,000 November 20.000 10000 SOTOOSI 27000 $4,000 Decemb295.0005 _37 15000 4.500 1) If the ending cash balance as of June 30, 2017 was $10,000, determine the firm's forecasted monthly cash balance. 1) The staff at The Right Target, Inc. wants to know how much they would need to borrow each month if the minimum ending cash balance is $30,000 and the annual interest rate is 7%. k) Determine the impact on the ending cash balance if the firm uses any cash surplus above the required minimum cash balance to pay off its short-term borrowing monthly.

this is what i have so far

Answer 1

Month	Collections		Payments
	Cash Sales	Credit Sales	Purchases	Wages	Miscellaneous Expenses	Net Collection	Beg. Balance	(i)Ending balance	Interest @ 7% p.a	Balance after Interest	Min. Balance	(j)Borrowing for the month	Cumulative Borrowing
July	$10,000	$20,000	$15,000	$6,000	$1,500	$7,500	$10,000	$17,500	$0	$17,500	$30,000	$12,500	$12,500
August	$12,000	$24,000	$18,000	$7,200	$2,000	$8,800	$17,500	$26,300	$73	$26,227	$30,000	$3,773	$16,273
September	$14,000	$28,000	$21,000	$8,400	$2,500	$10,100	$26,300	$36,400	$95	$36,305	$30,000	$0	$16,273
October	$16,000	$32,000	$24,000	$9,600	$3,000	$11,400	$36,400	$47,800	$95	$47,705	$30,000	$0	$16,273
November	$20,000	$40,000	$30,000	$12,000	$4,000	$14,000	$47,800	$61,800	$95	$61,705	$30,000	$0	$16,273
December	$25,000	$50,000	$37,500	$15,000	$4,500	$18,000	$61,800	$79,800	$95	$79,705	$30,000	$0	$16,273

Month	Collections		Payments
	Cash Sales	Credit Sales	Purchases	Wages	Miscellaneous Expenses	Net Collection	Beg. Balance	(i)Ending balance	Interest @ 7% p.a	Balance after Interest	Min. Balance	(j)Borrowing for the month	Surplus used to pay-off loan	Cumulative Borrowing	(k) Ending Cash Balance
July	$10,000	$20,000	$15,000	$6,000	$1,500	$7,500	$10,000	$17,500	$0	$17,500	$30,000	$12,500	$0	$12,500	$30,000
August	$12,000	$24,000	$18,000	$7,200	$2,000	$8,800	$17,500	$26,300	$73	$26,227	$30,000	$3,773	$0	$16,273	$30,000
September	$14,000	$28,000	$21,000	$8,400	$2,500	$10,100	$26,300	$36,400	$95	$36,305	$30,000	$0	$6,305	$9,968	$30,000
October	$16,000	$32,000	$24,000	$9,600	$3,000	$11,400	$36,400	$47,800	$58	$47,742	$30,000	$0	$9,968	$0	$37,774
November	$20,000	$40,000	$30,000	$12,000	$4,000	$14,000	$47,800	$61,800	$0	$61,800	$30,000	$0	$0	$0	$61,800
December	$25,000	$50,000	$37,500	$15,000	$4,500	$18,000	$61,800	$79,800	$0	$79,800	$30,000	$0	$0	$0	$79,800