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Sparks Corporation has a cash balance of $16,500 on April 1. The company must maintain a minimum cash balance of $13,500. During April, expected cash
Sparks Corporation has a cash balance of $16,500 on April 1. The company must maintain a minimum cash balance of $13,500. During April, expected cash receipts are $63,000. Cash disbursements during the month are expected to total $74,500. Ignoring interest payments, during April the company will need to borrow: |
$5,000
$8,500
$13,500
$11,500
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