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QUESTION 29 Sherman Company is preparing a cash budget for June. The companys cash balance on June 1 is $6,800. The company

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Answer #1

Answer: A.400

Calculations:

Cash Budget
Balance on June 1 $6,800
Cash receipts $16,000
Total cash available $22,800
(Less): Disbursements ($18,200)
Cash balance $4,600
(Less): Required cash balance ($5,000)
Projected financing amount $400

Thus, Option A is correct and remaining options are incorrect.

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