Question: Farm to Market FM is a major food cooperative Suppose FM begins
Farm-to-Market (FM) is a major food cooperative. Suppose FM begins 2015 with cash of $7 million. FM estimates cash receipts during 2015 will total $103 million. Planned payments will total $97 million. To meet daily cash needs next year, FM must maintain a cash balance of at least $11 million. Prepare the organization’s cash budget for 2015.
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