Homework Answers
| SANTOS CO. | |
| Cash Budget | |
| For Month Ended February 28 | |
| Beginning cash balance | $10,000 |
| Add: Cash receipts | $67,000 |
| Total cash available | $77,000 |
| Less: Cash disbursements | ($107,000) |
| Preliminary cash balance | ($30,000) |
| Additional Loan required ($30,000 + $6,000) | $36,000 |
| Ending cash balance | $6,000 |
Therefore, company must borrow $36,000 from the bank in order to maintain the minimum cash balance of $6,000.
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