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What amount of money must be borrowed

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Goldberg Company is preparing a cash budget for the month of June. The following information is available:

Cash Balance, May 31, 2010 $10,000

Cash collections from customers in June 46,000

Cash paid for merchandise in June 42,000

Paid operating expenses in June 12,000

Purchase furniture for cash in June 3,000

Depreciation expense in June 1,000

Amortization expense in June 1,000

The minimum cash balance desired is $10,000. What amount of money must be borrowed at June 30, 2010 to meet the minimum cash balance?

Reference no: EM132993800

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