Why Choose Us?
0% AI Guarantee
Human-written only.
24/7 Support
Anytime, anywhere.
Plagiarism Free
100% Original.
Expert Tutors
Masters & PhDs.
100% Confidential
Your privacy matters.
On-Time Delivery
Never miss a deadline.
Company has $12
Company has $12.000 at Junet. The company alto anticipates $30,000 in cash receipts and $34,500 in cash disbursements for the month of June. Blich Company has a policy of maintaining a cash balance of $10,000 at the end of each month. The company also has an agreement with its bank to borrow or repay funds necessary to maintain the required ending balance. As of May 31, the company owes $15.000 to the bank What is the ending balance of the loan on June 307 Multiple Choice $7,500 $25,000 $12500 512,500 $19.500
Expert Solution
olution : answer is $17,500
Working Notes:
Cash budget for the month of June
| Amount $ | |
| Opening balance | 12,000 |
| Add : reciepts | 30,000 |
| Less: disbursement | (34,500) |
| Add: borrowing / ( repay) | 2,500 |
| Closing balance | 10,000 |
End balance of loan in June = opening balance of loan + borrow in June
= $15,000 + $2,500
= $17,500
Archived Solution
You have full access to this solution. To save a copy with all formatting and attachments, use the button below.
For ready-to-submit work, please order a fresh solution below.
