Jones Inc. has a beginning cash balance of $4,000 on March 1st. During the month of...

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Jones Inc. has a beginning cash balance of $4,000 on March 1st. During the month of March, the total Cash Receipts were $80,000 and total Cash Disbursements were $ 90,000. The company is required to maintain a minimum cash balance of $3,000 at the end of every month. Money can be borrowed in multiples of $1,000. The loan balance on March 1st was $8,000. REQUIRED: What will be the cumulative loan balance on March 31st? (assuming no interest payments were required) Jones Inc. has a beginning cash balance of $4,000 on March 1st. During the month of March, the total Cash Receipts were $80,000 and total Cash Disbursements were $ 90,000. The company is required to maintain a minimum cash balance of $3,000 at the end of every month. Money can be borrowed in multiples of $1,000. The loan balance on March 1st was $8,000. REQUIRED: What will be the cumulative loan balance on March 31st? (assuming no interest payments were required)

Answer rating: 100% (QA)

Lets break down the calculations Initial cash balance 4000 Add cash receipts 4000 80000 840... View the full answer