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Westville Inc. had a cash balance of $320000 at the beginning of Quarter 3 of fiscal year 2019. The minimum cash balance requirement was set
Westville Inc. had a cash balance of $320000 at the beginning of Quarter 3 of fiscal year 2019. The minimum cash balance requirement was set at $280000. During Quarter 3 of fiscal year 2019, the firm paid $210,000 to its suppliers, and collected $500,000 from its customers. Moreover, the company paid an interest payment of $40000 and $150,000 in taxes. In addition, the company spent $40,000 purchasing new machines for its production. What was Westvilles cash balance at the end of Quarter 3 of fiscal year 2019?
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