California Corporation had a cash balance of $18,000 on March 1. The company must maintain a minimum cash balance of $10,000. During March, expected cash receipts are $98,000. Cash disbursements during the month are expected to total $112,000. Ignoring interest payments, during March the company will need to borrow:

a. $7,000

b. $3,000

c. $6,000

d. $4,000

California Corporation had a cash balance of $18,000 on March 1. The company must maintain a minimum cash balance of $10,000. During March, expected cash receipts are $98,000. Cash disbursements during the month are expected to total $112,000. Ignoring interest payments, during March the company will need to borrow: $7,000 $3,000 $6,000 $4,000