Margaret, working as a manager in the company, is asked to submit the cash budget for...
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Margaret, working as a manager in the company, is asked to submit the cash budget for the third quarter of the year. Margaret's analysis shows that the third quarter will report an opening cash balance of $7250, expected cash receipts of $22400, and expected cash disbursements of $24950. If the company is required to keep a minimum quarterly cash balance of $9000, then in order to meet this requirement, the company must borrow O $4700. Ⓒ $9800. O $4300. O $13700. Margaret, working as a manager in the company, is asked to submit the cash budget for the third quarter of the year. Margaret's analysis shows that the third quarter will report an opening cash balance of $7250, expected cash receipts of $22400, and expected cash disbursements of $24950. If the company is required to keep a minimum quarterly cash balance of $9000, then in order to meet this requirement, the company must borrow O $4700. Ⓒ $9800. O $4300. O $13700.
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Related Book For
Managerial Accounting Decision Making and Performance Management
ISBN: 978-0273764489
4th edition
Authors: Ray Proctor
Posted Date:
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