Multiple Choice
On January 1, Patel Company has a beginning cash balance of $21,000. During the year, the company expects cash disbursements of $170,000 and cash receipts of $145,000. If Patel requires an ending cash balance of $20,000, the company must borrow
A) $16,000.
B) $20,000.
C) $24,000.
D) $46,000.
Correct Answer:
Verified
Correct Answer:
Verified
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