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Sarasota Corporation’s management wants to maintain a minimum monthly cash balance of $10,400. At the beginning of September, the cash balance is $15,951, expected cash receipts for September are $126,360, and cash disbursements are expected to be $149,500. How much cash, if any, must Sarasota borrow to maintain the desired minimum monthly balance? Determine your answer by using the basic form of the cash budg

Respuesta :

Answer:

$17,589

Explanation:

The computation of the borrowed amount is shown below:

= Beginning cash balance + expected cash receipts  - expected cash disbursements - minimum monthly cash balance

= $15,951 + $126,360 - $149,500 - $10,400

= $17,589

Simply we add the expected cash receipts and less the expected  cash disbursements and minimum monthly cash balance to the beginning cash balance so that accurate value can come.

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