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How much financing will the company need

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Problem - A company is preparing its cash budget for the first quarter of the year. It has $1300 in cash at the beginning of the period. Cash sales for the quarter are budgeted at $30700. Selling and administrative expenses are budgeted at $8600, which includes $2600 depreciation. Cash expenses are paid in the month incurred. Cash payment for inventory purchases are budgeted at $26000. The desired cash balance on March 31 is $5200. How much financing will the company need during the quarter?

Reference no: EM132999695

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