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37. On January 1, Hogan Company has a beginning cash balance of $21,000. During the year, the company expects cash disbursements of $170,000 and cash

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37. On January 1, Hogan Company has a beginning cash balance of $21,000. During the year, the company expects cash disbursements of $170,000 and cash receipts of $145,000. If Hogan requires an ending cash balance of $20,000, the company must borrow a. $16,000. b. $20,000 c. $24,000 d. $46,000

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