TB MC Qu. 20-157 (Algo) Zhang Industries is preparing a cash...

Zhang Industries is preparing a cash budget for June. The company has $34,500 cash at the beginning of June and anticipates $108,000 in cash receipts and $135,040 in cash payments during June. The company has no loans outstanding on June 1. Compute the amount the company must borrow, if any, to maintain a $26,000 cash balance.

Multiple Choice

• $33,460.

• $19,540.

• $27,040.

• $18,540.

• $10,040.