Homework Answers
Solution:
$4,800
Explanation:
Beginning cash balance = 18,900
cash receipts = 124,600
Cash disbursements = 138,300
Minimum cash balance = 10,000
Preliminary cash balance = beginning cash balance + cash receipts - cash disbursements = 18900 + 124600 - 138300
= $5,200
Required loan for minimum 10,000 cash balance = 10,000 - 5200 = $4,800
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