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What is the ending balance of the loan on june

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Problem - Birch Company has $12,000 at June 1. The company also anticipates $30,000 in cash receipts and $34,500 in cash disbursements for the month of June. Birch Company has a policy of maintaining a cash balance of $10,000 at the end of each month. The company also has an agreement with its bank to borrow or repay funds necessary to maintain the required ending balance. As of May 31, the company owes $15,000 to the bank. What is the ending balance of the loan on June 30?

Reference no: EM132756631

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