Southland Company is preparing a cash budget for August. The company has $17,000 cash at the beginning of August and anticipates $120,000 in cash receipts and $130,000 in cash disbursements during August. Southland Company wants to maintain a minimum cash balance of $10,000. To maintain the required balance, during August the company must: A. Repay $7,000. B. Borrow $3,000. C. Repay $3,000. D. Borrow $7,000.
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Home » Business » Southland Company is preparing a cash budget for August. The company has $17,000 cash at the beginning of August and anticipates $120,000 in cash receipts and $130,000 in cash disbursements during August.