The Cash Budget of Regis Golf Park
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You recently began a job as an accounting intern at Regis Golf Park. Your first task was to help prepare the cash budget for April and May. Unfortunately, the computer with the budget file crashed, and you did not have a backup. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you have just enough information to reconstruct the budget.
Regis Golf Park eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 8%. Regis Golf Park pays interest on its outstanding debt at the end of each month. The company also repays all borrowed amounts at the end of the month, as cash becomes available.
Complete the attached cash budget.
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Solution Summary
This solution contains instruction to fulfill the cash budget for a gold park.
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Please see the attached cash budget.
The dashes indicate that the amounts against ...
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