Cementworks has a beginning cash balance for the quarter of $1,211. The business requires a minimum cash
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Cementworks has a beginning cash balance for the quarter of $1,211. The business requires a minimum cash balance of $1,200 and uses a loan account to maintain the balance. Funds have been borrowed, then paid back as soon as excess funds are available. Currently, the ending balance of the external loan is $1,318.
calculate How much will be borrowed or repaid this quarter if quarterly receipts are $4,209 and quarterly disbursements are $3,800?
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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