A Company is preparing a cash budget for June The company has $83,750 cash at the beginning ofJune and anticipates $102,930 in cash receipts and $116,870 in cash disbursements during June. Thiscompany has an agreement with its bank to maintain a cash balance of at least $81 250. As of May 31.the company owes $30,000 to the bank To maintain the $81.250 required balance, during June thecompany mustO Borrow $11 440O Repay $13,940O Borrow $30 000Repay $30,000O Repay $11,440

Given: Opening balance = $83,570 Cash receipts = $102,930 Cash disbursements = $116,870 Required…

Answered: A Company is preparing a cash budget…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 18E

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