The following information was taken from Hobson Company cash budget for the month of june Beginning cash

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The following information was taken from Hobson Company cash budget for the month of june

Beginning cash balance……………………….$180,000

Cash receipts…………………………………...174,000

Cash disbursements…………………………....204,000

If the company has a policy of maintaining an end-of- the- month cash balance of $150,000, the amount the company would have to borrow is

a. $66,000.

b. $30,000.

c. $0

d. $90,000.

Related Book For answer-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Posted Date: Dec 17, 2018 12:58 AM

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The following information was taken from Hobson Company cash budget for the month of june Beginning cash

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