Answer:
balance of the loan = $4500
correct option is d. $4, 500
Explanation:
given data
cash at the beginning = $15,000
cash receipts = $50,000
cash disbursements = $34, 500
minimum cash balance = $10,000
maintains = $20,000
company owes = $15,000
to find out
balance of the loan
solution
we get here first excess that is
excess = $15,000 + $50,000 - $34, 500
excess = $30500
so used to loan replay will be here as
used to loan replay = $30500 - $20,000
used to loan replay = $10500
so balance of loan will be here
balance of the loan = $15,000 - $10500
balance of the loan = $4500
correct option is d. $4, 500
