Answer:
Foyert Corp.
Cash Balance
October November December
Beginning balance $7,900 $7,900 $7,900
Outstanding loan 2% $3,900 $6,928 $6,066.56
Cash receipts $23,900 $17,900 $21,900
Cash disbursements $26,850 $16,900 $14,100
Interest payments $78 $138.56 $121.33
Ending balance $4,872 $8,761.44 $15,778.67
Required new loan $3,028 -$861.44 -$6,066.56
Final cash balance $7,900 $7,900 $9,512.11
At the end of the year, the company will have $0 loans and $9,512.11 in cash.
