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How much financing will the company need

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Question - A company is preparing its cash budget for the first quarter of the year. It has $8,000 in cash at the beginning of the period. Cash sales for the quarter are budgeted at $180,000. Selling and administrative expenses are budgeted at $58,000, which includes $12,000 depreciation. Cash expenses are paid in the month incurred. Cash payment for inventory purchases are budgeted at $135,000. The desired cash balance on March 31 is $10,000. How much financing will the company need during the quarter?

a- $7,000

b- $3,000

c- $0

d- $5,000

Reference no: EM132107578

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