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5-In May, a business had an ending cash balance of $35,000. In June, the firm had total cash receipts of $40,000 and total cash disbursements
5-In May, a business had an ending cash balance of $35,000. In June, the firm had total cash receipts of $40,000 and total cash disbursements of $50,000. The minimum cash balance required by the business is $25,000. At the end of June, the business had (Choose the correct answer . Show all your computations according to the instructions). a. financing need for $10,000 b. excess cash of $0 c. excess cash of $25,000 d. financing need for $25,000
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