Question
Ortez Corporation has a cash balance of $15,000 on April 1. The companys bank requires Ortez to maintain a minimum cash balance of $10,000. During
Ortez Corporation has a cash balance of $15,000 on April 1. The companys bank requires Ortez to maintain a minimum cash balance of $10,000. During April, expected cash receipts are $118,000 and cash disbursements are $137,000. How much will Ortez need to borrow during April?
| a. | $19,000 | |
| b. | $14,000 | |
| c. | $ 0 | |
| d. | $ 4,000 |
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For Wahlen/jones/pagachs Intermediate Accounting Reporting And Analysis, , 2 Terms
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd Edition
1305405676, 9781305405677
