Line of credit liability account

Reference no: EM13132244

McBride Medical had a cash balance of $7,000 on January 1. The company desires to maintain a cash cushion of $5,000. Funds are assumed to be borrowed, in the increments of McBride pays its vendor on the last day of the month also. The company had a $30,000 beginning balance in its line of credit liability account.

Reference no: EM13132244

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