How much money will analog need to borrow in order

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Reference no: EM132017259

1. Kantorovich Company normally takes 24 days to pay for its average daily credit purchases of $2,300. Its average daily sales are $3,300, and it collects accounts in 19 days. What is its net credit position? Note that a negative position implies receivables exceed payables.

2. Analog Computers needs to borrow $770,000 from the Midland Bank. The bank requires a 18% compensating balance. How much money will Analog need to borrow in order to end up with $770,000 spendable cash? (Round your answer to the nearest dollar amount.)

Reference no: EM132017259

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