Accounting problem - stuck!
The monthly cash budgets for the first quarter of 2009 are shown below ($000 omitted) for XYZ Company. A minimum cash balance of $40,000 is required. A line of credit has been established with ABC's bank at a 7.5% interest rate. Calculate the missing amounts:
http://ezto.mhhm.mcgraw-hill.com/132...a=image025.png
The link above provides the chart with the blanks that I am suppose to fill in.
Here is what I have so far:
January blanks:
136
100
228
February blanks:
-40
174
78
March
272
48
4
Q1 Total
622
316
186
I am not sure that I truly understand the borrowings and repayments that they are looking for on the chart. I hope you are able to see it! Please help.