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Ne4ueva [31]
3 years ago
7

Sparks Corporation has a cash balance of $19,500 on April 1. The company must maintain a minimum cash balance of $16,000. During

April, expected cash receipts are $68,000. Cash disbursements during the month are expected to total $82,000. Ignoring interest payments, during April the company will need to borrow:
a. $10,500
b. $5,500
c. $16,000
d. $14,000
Business
1 answer:
Ganezh [65]3 years ago
4 0

Answer:

Cash borrow  = 10500

so correct option is a. $10,500

Explanation:

given data

Ending cash balance = $16,000

Beginning cash balance = $19,500

expected cash receipts = $68,000

Cash disbursements = $82,000

solution

we know that Ending cash balance is express as

Ending cash balance = Beginning cash balance + Cash receipts - Cash disbursements + Cash borrow   .............................1

we get here Cash borrow put here value

$16,000 = $19,500  + $68,000 - $82,000 + Cash borrow

solve it we get

Cash borrow  = 10500

so correct option is a. $10,500

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