Business, 23.04.2020 01:27 jakebice3643
Sparks Corporation has a cash balance of $14,700 on April 1. The company must maintain a minimum cash balance of $12,000. During April, expected cash receipts are $60,000. Cash disbursements during the month are expected to total $70,000. Ignoring interest payments, during April the company will need to borrow:
a. $4,700
b. $7,300
c. $12,000
d. $10,000
Answers: 2
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