Western Company is preparing a cash budget for June. The company has $10.500 cash at the beginning of June and anticipates $31,500 in cash receipts and $37.500 in cash disbursements during June. Western Company has an agreement with its bank to maintain a minimum cash balance of $10,000. As of May 31, the company owes $15,000 to the bank. To maintain the $10,000 required balance, during June the company must: Multiple Choice o Borrow $5.500. o Borrow $6,000. o Borrow $10,000. o Repay $5,500. o O Repay $4,500. Memphis Company's May sales budget calls for sales of $930,000. The store expects to begin May with $53,000 of inventory and to end the month with $58,000 of inventory. Gross margin is typically 45% of sales. Compute the budgeted cost of merchandise purchases for May. Multiple Choice O $418.500 O $51.500 O $423.500 $506,500 O $516.500