Question
Hamilton Industries must maintain a minimum cash balance of $37,000. At the beginning of February the company's cash balance was $66,000. The budget for February
Hamilton Industries must maintain a minimum cash balance of $37,000. At the beginning of February the company's cash balance was $66,000. The budget for February is as follows: Total cash receipts $220,000 Total cash disbursements $245,000 Depreciation $16,000 During February, how much will the company need to borrow?
A. $0
B. $25,000
C. $12,000
D.$41,000
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Auditing Social Media A Governance And Risk Guide
Authors: Peter R. Scott, J. Mike Jacka
1st Edition
1118061756, 978-1118061756
