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Patricias housekeeping company has the following data projected for June. Beginning cash balance $24,500 Cash collections from customers 36,200 Cash disbursements 54,300 Patricia wants to
Patricias housekeeping company has the following data projected for June. Beginning cash balance $24,500 Cash collections from customers 36,200 Cash disbursements 54,300 Patricia wants to maintain a cash balance of $10,000 or more. Any amount below this can be borrowed from a local bank as needed in increments of $1,000. All borrowings are made at month end. In Patricia's cash budget for June, how much money will Patricia need to borrow at month end? A. $6,000 B. $5,000 C. $7,000 D. $4,000
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