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Question 1 2 pts Crane Company is preparing a cash summary budget using the data below. They have already prepared their cash receipts and cash
Question 1 2 pts Crane Company is preparing a cash summary budget using the data below. They have already prepared their cash receipts and cash payments budget so that data is provided: November October Beginning Cash Balance $16000 Expected Cash Receipts $95000 $63000 Expected Cash Payments $45000 $76000 Management always wants to maintain a $41214 minimum cash balance at the end expected cash shortfall in the budget they will be of every month. If there is an proactive and borrow money at the first day of the month. That way they will not risk having too low of a balance during the month. They can borrow any amount of money needed. They may not pay loans back in installments. They have to pay them back all at once. The interest rate is 12%. ASsume if they pay back money, they pay it back on the last day of the month. What is the ending cash balance for November after all loan repayments of principle and interest? Round your answer to the nearest whole dollar
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