Great Skot expects to have cash receipts in June of $532,160. Skots cash disbursements in June are
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Great Skot expects to have cash receipts in June of $532,160. Skot’s cash disbursements in June are $581,720, including an interest payment on a bond issue of $32,000. If Skot wishes to maintain a cash balance of $40,000, how much will Skot have to borrow if it started the month with a cash balance of $52,000?
$37,560 |
Surplus of $2,440. Will not have to borrow |
$5,560 |
Surplus of $34,440. Will not have to borrow |
Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
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