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Chocolate Factory Inc. is preparing a cash budget for April. The company has $100,000 cash at the beginning of April and anticipates $123,000 in cash

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Chocolate Factory Inc. is preparing a cash budget for April. The company has $100,000 cash at the beginning of April and anticipates $123,000 in cash receipts and $236,250 in cash disbursements during April. Chocolate Factory Inc. has an agreement with its bank to maintain a cash balance of $25,000. What amount, if any, must the company borrow during April to maintain a $25,000 cash balance? Budgeted sales are: February, $310,000, March $340,000 and April, $610,000. Sales are 80% credit sales with 75% collected in the month following the sale, 25% two months following. What are cash receipts in April

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