Reference no: EM133069910
Question - A company calculates the following cash inflows and outflows for its January Cash Budget:
Beginning Cash Balance $20,000
Cash Collections $590,000
Cash Available $610,000
Disbursements: Raw Materials $300,000
Direct Labor $150,000
Manufacturing Overhead $50,000
Selling, General and Admin expenses $113,000
Total Disbursements $613,000
At the beginning of January, the company has no outstanding debt. If this company wants to always have at least $17,000 of cash on hand at the beginning of each month, how much do they need to borrow during for the month of January?
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