How much mary need to borrow to maintain minimum balance

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Reference no: EM132280237

Question - Mary's Bed and Breakfast needs to keep a cash balance of at least $10,000. She has budgeted the following for the month of December:

Payments to suppliers $5,000

Payments to employees $4,000

Credit sales $8,000

Cash collections $7,500

Depreciation expense $500

Other cash expenses $1,000

Beginning cash balance $11,000

How much will Mary need to borrow to maintain the minimum cash balance?





Reference no: EM132280237

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