Question
Sparks Corporation has a cash balance of $15,900 on April 1. The company must maintain a minimum cash balance of $13,000. During April, expected cash
Sparks Corporation has a cash balance of $15,900 on April 1. The company must maintain a minimum cash balance of $13,000. During April, expected cash receipts are $62,000. Cash disbursements during the month are expected to total $73,000. Ignoring interest payments, during April the company will need to borrow:
Multiple Choice
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$8,100
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$4,900
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$13,000
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$11,000
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Accounting And Auditing Research Tools And Strategies
Authors: Thomas Weirich, Thomas C. Pearson, Alan Reinstein
6th Edition
032430224X, 9780324302240
