Question: You are required to answer Question 7 and Question 8 using the following information: Johari Company is working on its cash budget for June. The

You are required to answer Question 7 and Question 8 using the following information: Johari Company is working on its cash budget for June. The budgeted beginning cash balance is $16,000. Budgeted cash receipts total $188,000 and budgeted cash disbursements total $187,000. The desired ending cash balance is $40,000. 7. The excess (deficiency) of cash available over disbursements for June will be: A. $15,000 B. $1,000 C. $17,000 D. $204,000 8. The amount of cash financing needed for June will be: A. $15,000 B. $23,000 C. $57,000 D. $33,000

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