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Sparks Corporation has a cash balance of $ 8 , 7 0 0 on April 1 . The company must maintain a minimum cash balance

Sparks Corporation has a cash balance of $8,700 on April 1. The company must maintain a minimum cash balance of $7,000. During April, expected cash receipts are $50,000. Cash disbursements during the month are expected to total $55,000. Ignoring interest payments, during April the company will need to borrow:0 a.5,000 b. $3,700c. $7,000d. $3,300

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