Question

The following information was reported for Lake Co.:

Beginning cash balance

$24,000

Cash payments

$42,000

Cash receipts

$29,000

Cash balance required

$22,000

How much cash will Lake Co. have to borrow to meet its cash balance requirements?

Question 12 options:

$ 9,000

$ 0

$ 11,000

$ 13,550

Beginning cash balance

$24,000

Cash payments

$42,000

Cash receipts

$29,000

Cash balance required

$22,000

 

 

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