Western Company is preparing a cash budget for June. The company has $11,000 in cash at the beginning of June and anticipates $31,000 in cash inflows and $36,500 in cash outlays during June. Western Company has an agreement with your bank to maintain a minimum cash balance of $10,000. As of May 31, the company owes the bank $15,000. To maintain the required balance of $10,000, during June the business must be ?

Answer rating: 100% (QA)

Western Company must borrow from the bank to maintain a minimum cash balance of 10000 during June ... View the full answer