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How much will the company need to borrow in April

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Question - ABC Company has a cash balance of $9,000 on April 1. The company must maintain a minimum balance of $6,000. The expected cash inflow in April is $45,000. Expected cash disbursements during the month total $52,000. The company has a line of credit of $50,000 at 10% annual interest (available in full). It borrows on the first day of the month and repays the loans on the last day of the month. How much will the company need to borrow in April?

Reference no: EM133076751

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