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Southland Company is preparing a cash budget for August. The company has $17,900 cash at the beginning of August and anticipates $122,600 in cash receipts
Southland Company is preparing a cash budget for August. The company has $17,900 cash at the beginning of August and anticipates $122,600 in cash receipts and $135,400 in cash payments during August. Southland Company wants to maintain a minimum cash balance of $10,000.
The preliminary cash balance at the end of August before any loan activity is:
a.
$15,100
b.
$5,100
c.
$27,900
d.
$140,500
e.
($12,800)
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