Question
San Pedro Co is preparing a cash budget for March. The company has $30,000 cash at the beginning of March and anticipates $70,000 in cash
San Pedro Co is preparing a cash budget for March. The company has $30,000 cash at the beginning of March and anticipates $70,000 in cash receipts and $94,000 in cash disbursements during March. San Pedro has an agreement with its bank to maintain a cash balance of $10,000. What amount, if any, must the company borrow during March to maintain a $10,000 cash balance?
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett, Otgo Erhemjamts
11th Edition
1264413041, 9781264413041
