Multiple Choice
Laurey Inc. is working on its cash budget for May. The budgeted beginning cash balance is $45,000. Budgeted cash receipts total $129,000 and budgeted cash disbursements total $124,000. The desired ending cash balance is $60,000. To attain its desired ending cash balance for May, the company needs to borrow:
A) $110,000
B) $0
C) $60,000
D) $10,000
Correct Answer:
Verified
Correct Answer:
Verified
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