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Eastern Enterprises is preparing a cash budget for June. Eastern has $12,000 cash at the beginning of June and anticipates $30,000 in cash receipts and
Eastern Enterprises is preparing a cash budget for June. Eastern has $12,000 cash at the beginning of June and anticipates $30,000 in cash receipts and $34,500 in cash disbursements during June. Eastern Enterprises has an agreement with its bank to maintain a cash balance of at least $10,000. As of May 31, Eastern owes $15,000 to the bank. To maintain the $10,000 required balance, during June Eastern must: Group of answer choices: 1)Borrow $10,000. 2)Borrow $ 2,500. 3) Repay $ 2,500. 4)Borrow $ 4,500. 5) Repay $ 7,500
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