The following information was taken from Sloan Ltd's cash budget for the month of July: If the company has a policy of maintaining a minimum end of the month cash balance of $75,000, the amount the company would have to borrow is:

Question

The following information was taken from Sloan Ltd's cash budget for the month of July:  If the company has a policy of maintaining a minimum end of the month cash balance of $75,000, the amount the company would have to borrow is:

Quizplus · Accepted Answer

The company would have to borrow $30,000 ($90,000 + 57,000 - 102,000 = $45,000 + ? = $75,000).

The Following Information Was Taken from Sloan Ltd's Cash Budget