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The following information is drawn from Royal Industries' cash budget: Cash Receipts $ 40,000 Beginning Cash Balance $ 10,000 Cash Payments $ 48,000 Desired Ending Cash Cushion $ 5,000 If there is a cash
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The following information is drawn from Royal Industries' cash budget: Cash Receipts $ 40,000 Beginning Cash Balance $ 10,000 Cash Payments $ 48,000 Desired Ending Cash Cushion $ 5,000 If there is a cash shortage, the company borrows money. If a surplus occurs funds are used to repay loans or to invest in short-term assets. The company had no debt before January 1st. The amounted "needed" to borrow or the amount "available" for repayment of debt in January would be Multiple Choice $2,000 available. $3,000 needed. $7,000 available. $13,000 needed.

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Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

The following information is drawn from Royal Industries' cash budget: Cash Receipts-example-1
User DNT
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