A company is preparing their 4th quarter cash summary
budget.
Based on their beginning cash balance and anticipated cash
receipts and cash disbursements (payments), here are the ending
cash balances initially planned each month. The
balances shown below are BEFORE any borrowing of money or repayment
of loans and interest.
Management wants to keep a minimum cash balance of $20,922.
Therefore, they will clearly need to borrow money in November.
Luckily, December looks like a good month and they will have...