Question
The finance director at Johnson Auto Supply a $2 million dollar annual revenue company, must cover wages for the next two pay periods. Her problem
The finance director at Johnson Auto Supply a $2 million dollar annual revenue company, must cover wages for the next two pay periods. Her problem is that cash flow is slow right now and receivables are rather high; worse, the inventory is securitized on prior loans. The company, obviously, is not a big, blue chip company. To cover payroll, what should her next step be in seeking financial help?
Group of answer choices
try to factor payroll
try to issue a promissory note for payroll
try to borrow money from the board of directors payroll
try to issue commercial paper for payroll
try to get the loan officer at Zion's Bank to loan the company money for payroll
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