Washam Company must maintain a minimum cash balance of $25,000.At the beginning of June the company's cash balance was $17,000.Budgeted cash receipts for June are $150,000 and budgeted cash disbursements are $201,000.Budgeted net income for July totals $11,000.How much will Washam Company need to borrow by the end of June?
A) $43,000
B) $34,000
C) $9,000
D) $59,000
Correct Answer:
Verified
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