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Afirm anticipates cash recelpts for February of $20,000 and for March of $30,000. Cash payments are expected to be $5,000 in February and $7,000 In
Afirm anticipates cash recelpts for February of $20,000 and for March of $30,000. Cash payments are expected to be $5,000 in February and $7,000 In March. The cash balance at the beginning of February was $6,000, which is the level the firm wishes to maintain. At the beginning of February, the firm has a $21,000 loan balance on a line of credit with a local bank. Based on the cash budget, how much can the firm repay In February and March? Click the answer you think is right. $15,000 & $6,000, respectively, with a $23,000 cash balance at the end of March. The firm has insufficient funds to make any repayments during this period. $21,000 in February, with a $6,000 cash balance at the end of March. $15,000 & $6,000, respectively, with a $6,000 cash balance at the end of March
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