The Arkansas Company makes and sells a product called Product K.Each unit of Product K sells for $24 dollars and has a unit variable cost of $18.The company has budgeted the following data for November: • Sales of $1,152,000,all in cash.• A cash balance on November 1 of $48,000.• Cash disbursements (other than interest)during November of $1,160,000.• A minimum cash balance on November 30 of $60,000.If necessary,the company will borrow cash from a bank.The borrowing will be in multiples of $1,000 and will bear interest at 2% per month.All borrowing will take place at the beginning of the month.The November interest will be paid in cash during November.The amount of cash needed to be borrowed on November 1 to cover all cash disbursements and to obtain the desired November 30 cash balance is:

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The Answer of The Arkansas Company makes and sells a product called Product K.Each unit of Product K sells for $24 dollars and has a unit variable cost of $18.The company has budgeted the following data for November: • Sales of $1,152,000,all in cash.• A cash balance on November 1 of $48,000.• Cash disbursements (other than interest)during November of $1,160,000.• A minimum cash balance on November 30 of $60,000.If necessary,the company will borrow cash from a bank.The borrowing will be in multiples of $1,000 and will bear interest at 2% per month.All borrowing will take place at the beginning of the month.The November interest will be paid in cash during November.The amount of cash needed to be borrowed on November 1 to cover all cash disbursements and to obtain the desired November 30 cash balance is:

The Arkansas Company Makes and Sells a Product Called Product