Question
The following information was reported for Lake Co.: Beginning cash balance $24,000 Cash payments $42,000 Cash receipts $29,000 Cash balance required $22,000 How much cash
The following information was reported for Lake Co.:
| Beginning cash balance | $24,000 |
| Cash payments | $42,000 |
| Cash receipts | $29,000 |
| Cash balance required | $22,000 |
How much cash will Lake Co. have to borrow to meet its cash balance requirements?
Question 12 options:
| $ 9,000 | |
| $ 0 | |
| $ 11,000 | |
| $ 13,550 |
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IT Auditing Defined
Authors: Ibrahim Yussuf, Matthew Robinett
1st Edition
1645435148, 978-1645435143
