question archive The following information was taken from Kingbird, Inc
The following information was taken from Kingbird, Inc
Subject:AccountingPrice: Bought3
The following information was taken from Kingbird, Inc. cash budget for the month of July:Beginning cash balance$143000Cash receipts137000Cash disbursements194000If the company has a policy of maintaining an end of the month cash balance of $143000, the amount the company would have to borrow isSecond Part: The following information was taken from Blue Spruce Corp. cash budget for the month JuneBeginning cash balance$80000Cash receipts108000Cash disbursements136000If the company has a policy of maintaining an end of the month cash balance of $70000, the amount the company would have to borrow isThird Part: The following credit sales are budgeted by Kingbird, Inc.:February228000March319200April273600The company’s past experience indicates that 60% of the accounts receivable are collected in the month of sale, 40% in the month following the sale. The anticipated cash inflow for the month of April is
