Preparing a cash budget-cash disbursements

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Reference no: EM13794849

A Company is preparing a cash budget for June. The company has $107,200 cash at the beginning of June and anticipates $131,770 in cash receipts and $149,560 in cash disbursements during June. This company has an agreement with its bank to maintain a cash balance of at least $104,000. As of May 31, the company owes $37,000 to the bank. To maintain the $104,000 required balance, during June the company must:

Borrow $14,590

Repay $17,790

Borrow $37,000

Repay $37,000

Repay $14,590

Reference no: EM13794849

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