Required information [The following information applies to the questions displayed below.] The following trial balance was drawn from the records of Havel Company as of October 1, year 2. $ 16,000 60,000 40,000 200,000 Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals $ 76,800 72,000 100,000 50,000 17,200 $316,000 $316,000 c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.) c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.) Answer is not complete. Cash Budget for October Beginning cash balance $ 16,000 Cash available 16,000 Less: Payments For inventory purchases (106,800) (51,545) X For S&A expenses Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? (158,345) (58,345) $ Yes Required information [The following information applies to the questions displayed below.] The following trial balance was drawn from the records of Havel Company as of October 1, year 2. $ 16,000 60,000 40,000 200,000 Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earnings Totals $ 76,800 72,000 100,000 50,000 17,200 $316,000 $316,000 c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.) c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.) Answer is not complete. Cash Budget for October Beginning cash balance $ 16,000 Cash available 16,000 Less: Payments For inventory purchases (106,800) (51,545) X For S&A expenses Total budgeted payments Cash surplus (shortage) Will Havel need to borrow money during October? (158,345) (58,345) $ Yes