Question
Laurey Inc. is working on its cash budget for May. The budgeted beginning cash balance is $45,000. Budgeted cash receipts total $129,000 and budgeted cash
Laurey Inc. is working on its cash budget for May. The budgeted beginning cash balance is $45,000. Budgeted cash receipts total $129,000 and budgeted cash disbursements total $124,000. The desired ending cash balance is $60,000. To attain its desired ending cash balance for May, the company needs to borrow:
| A. | $10,000 | |
| B. | $110,000 | |
| C. | $60,000 | |
| D. | $0
|
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Cost Management Strategies For Business Decisions
Authors: Ronald Hilton, Michael Maher, Frank Selto
3rd Edition
0072830085, 978-0072830088
