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Sparks Corporation has a cash balance of $15,300 on April 1. The company must maintain a minimum cash balance of $12,500. During April, expected cash
Sparks Corporation has a cash balance of $15,300 on April 1. The company must maintain a minimum cash balance of $12,500. During April, expected cash receipts are $61,000. Cash disbursements during the month are expected to total $71,500. Ignoring interest payments, during April the company will need to borrow: |
$4,800
$7,700
$12,500
$10,500
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