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inysia [295]
3 years ago
15

Western Company is preparing a cash budget for June. The company has $11,200 in cash at the beginning of June and anticipates $3

0,800 in cash receipts and $36,100 in cash payments during June. Western Company has an agreement with its bank to maintain a minimum cash balance of $10,000. As of May 31, the company has no loans outstanding. To maintain the $10,000 required balance, during June the company must:
Business
1 answer:
Kazeer [188]3 years ago
7 0

Answer:

during June balance  we need pay or borrow $4100

Explanation:

given data

cash = $11200

cash receipts = $30800

cash payments  = $36100

minimum cash balance = $10000

required balance =  $10000

to find out

during June balance

solution

so we find balance here as

balance = cash in beginning + cash receipts - cash payments

put here all value

balance = 11200 + 30800 - 36100

balance = $5900

so here we know minimum cash balance require = $10000

so here

required balance = $10000 - $5900

required balance = $4100

so during June balance  we need pay or borrow $4100

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