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Zhang Industries is preparing a cash budget for June. The company has $29,500 cash at the beginning of June and anticipates $98,000 in cash receipts

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Zhang Industries is preparing a cash budget for June. The company has $29,500 cash at the beginning of June and anticipates $98,000 in cash receipts and $122,540 in cash payments during June. The company has no loans outstanding on June 1. Compute the amount the company must borrow, if any, to maintain a $23,000 cash balance. Multiple Choice $27.960. $19.040. $24.540 $18.040. $11,540 O

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