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Payment Inc. is making its cash budget for February. The budgeted beginning cash balance is $27,000. Budgeted cash receipts total $136,000 and budgeted cash disbursements total $128,000. The desired ending cash balance is $50,000. The company can borrow up to $110,000 at any time from a local bank, with interest not due till the given month.

Required:

Develop the company's cash budget for February in good form. Make sure to point out what borrowing, if any, would be required to attain the desired ending cash balance.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M919276

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