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Homework answers / question archive / Bries Corporation is preparing its cash budget for January

Bries Corporation is preparing its cash budget for January

Accounting

Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $18,000. Budgeted cash receipts total $183,000 and budgeted cash disbursements total $188,000. The desired ending cash balance is $30,000. To attain its desired ending cash balance for January, the company should borrow: a g hp

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Amount to be borrowed

=Desired ending balance + cash payment - cash receipts - beginning balance

= 30000 + 188000-183000-18000

= $ 17000

So the correct answer is

Amount to be borrowed = $ 17000

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