Question
George Services Inc has $8,200 cash on hand on October 1. The company requires a minimum cash balance of $7,600. October cash collections are $548,410.
George Services Inc has $8,200 cash on hand on October 1. The company requires a minimum cash balance of $7,600. October cash collections are $548,410. Total cash payments for October are $573,870. Prepare a cash budget for October. How much cash, if any, will George need to borrow by the end of October?
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
4th edition
978-0133428469, 013342846X, 133428370, 978-0133428377
