The treasurer for Chic Man Clothing must decide how much money the company needs to borrow in July.The balance sheet for June 30,2010 is presented below: Chic Man Clothing Balance Sheet June 30,2010 The company expects sales of $400,000 for July.The company has observed that 25% of its sales is for cash and that the remaining 75% is collected in the following month.The company plans to purchase $345,000 of new clothing.Usually 70% of purchases is for cash and the remaining 30% of purchases is paid in the following month.Salaries are $135,000 per month,lease payments are $35,000 per month,and depreciation charges are $20,000 per month.The company plans to purchase a new van for $60,000 in July and sell its marketable securities for $123,000.If the company must maintain a minimum cash balance of $25,000,how much money must the company borrow in July?

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The treasurer for Chic Man Clothing must decide how much money the company needs to borrow in July.The balance sheet for June 30,2010 is presented below: Chic Man Clothing Balance Sheet June 30,2010  The company expects sales of $400,000 for July.The company has observed that 25% of its sales is for cash and that the remaining 75% is collected in the following month.The company plans to purchase $345,000 of new clothing.Usually 70% of purchases is for cash and the remaining 30% of purchases is paid in the following month.Salaries are $135,000 per month,lease payments are $35,000 per month,and depreciation charges are $20,000 per month.The company plans to purchase a new van for $60,000 in July and sell its marketable securities for $123,000.If the company must maintain a minimum cash balance of $25,000,how much money must the company borrow in July?

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The Answer of The treasurer for Chic Man Clothing must decide how much money the company needs to borrow in July.The balance sheet for June 30,2010 is presented below: Chic Man Clothing Balance Sheet June 30,2010  The company expects sales of $400,000 for July.The company has observed that 25% of its sales is for cash and that the remaining 75% is collected in the following month.The company plans to purchase $345,000 of new clothing.Usually 70% of purchases is for cash and the remaining 30% of purchases is paid in the following month.Salaries are $135,000 per month,lease payments are $35,000 per month,and depreciation charges are $20,000 per month.The company plans to purchase a new van for $60,000 in July and sell its marketable securities for $123,000.If the company must maintain a minimum cash balance of $25,000,how much money must the company borrow in July?

The Treasurer for Chic Man Clothing Must Decide How Much