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Hamilton Industries must maintain a minimum cash balance of $49,000. At the beginning of February the company's cash balance was $57,000. The budget for February
Hamilton Industries must maintain a minimum cash balance of $49,000. At the beginning of February the company's cash balance was $57,000. The budget for February is as follows:
| Total cash receipts | $100,000 |
| Total cash disbursements | $155,000 |
| Depreciation | $14,000 |
During February, how much will the company need to borrow?
| $61,000 | ||
| $12,000 | ||
| $2,000 | ||
| $47,000 |
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