Question
The cash budget of Cottage Industry's for the month of November includes the following information Beginning cash balance $225,000 Cash receipts 318,000 Cash payments 396,500
The cash budget of Cottage Industry's for the month of November includes the following information
| Beginning cash balance | $225,000 |
| Cash receipts | 318,000 |
| Cash payments | 396,500 |
If the company has a policy of maintaining a minimum end of the month cash balance of $200,000, the amount the company would have to borrow is:
|
| $0 |
|
| $53,500 |
|
| $196,500 |
|
| $146,500 |
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
9780078025525, 9780077517359, 77517350, 978-0077398194
