Webber Company is preparing its cash budget for the upcoming quarter. The budgeted beginning cash...
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Accounting
Webber Company is preparing its cash budget for the upcoming quarter. The budgeted beginning cash balance is expeced to be $30,000. Cash Receipts and Disbursements are as follows for each month of the quarter.
Month 1 Month 2 Month 3
Cash receipts 10000 11000 12000
Cash disbursements 9000 14810 8858
Webber wants to maintain a minimum cash balance of $30315 each month of the quarter. How much will they need to borrow at anytime during the quarter (either month 1, 2, or 3) in order to maintain that balance?
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