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July the company's cash balance was $40,000. The budget...

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Accounting

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July the company's cash balance was $40,000. The budget for July is as follows: Total cash receipts Total cash Frasier Company must maintain a minimum cash balance of $32,000. At the beginning of $250,000 $245,000 disbursements Net income $50,000 Purchase machinery by signing a promissory note $35,000 How much will Frasier Company need to borrow during July? $35,000 Ending balance in cash is $45,000, so none $50,000 Submit answer Exit

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