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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
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: |
$3,700
$3,300
$7,000
$5,000
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