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King Ltd. is trying to decide whether it is going to need to take a loan in coming January to buy a new microcomputer
King Ltd. is trying to decide whether it is going to need to take a loan in coming January to buy a new microcomputer system. The microcomputer will cost $11,250. The president, Gary King, has collected the following information about her operations as at December 31: 1. Balance of selected ledger accounts: Cash $3,750 Accounts payable 7,500 2. Sales history and forecast (unit selling price, $12): October (actual) $56,250 November (actual) 42,500 December (actual) 56,250 January (forecast) 75,000
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