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What is the minimum cash loan that must be planned

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Question 1: During December, the capital budget indicates a $280500 purchase of equipment for cash. The ending November cash balance is budgeted to be $40000. Cash receipts are $839700, and cash disbursements are $610800 during December. The company wants to maintain a minimum cash balance of $20100. What is the minimum cash loan that must be planned to be borrowed from the Bank during December?

option a) $31700

option b) $11600

option c) $51600

option d) $0

Reference no: EM132520584

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