Cullumber Company is preparing a cash budget for September. The company’s cash balance on September 1...
Cullumber Company is preparing a cash budget for September. The company’s cash balance on September 1 is $43150. The company anticipates cash receipts of $207950 and cash disbursements of $218220. If Cullumber Company desires a cash balance of $44640, it must:
acquire financing of $11760.
acquire financing of $1490.
acquire financing of $8780.
acquire financing of $34370.
Homework Answers
A. acquire financing of $11760.
If Cullumber Company desires a cash balance of $44,640, it must:
= $44,640 - ($43,150 + $207,950 - $218,220)
= $11,760
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Cullumber Company is preparing a cash budget for September. The
company’s cash balance on September 1...
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