The firm has the following cash inflows and outflows for June:
Cash receipts: $1230
Cash expenses: $745
Desired ending cash balance: $1000
Beginning cash balance: $300
To determine the amount of loans the firm must take to meet its requirements for June, we need to calculate the [cash shortfall](poe://www.poe.com/_api/key_phrase?phrase=cash%20shortfall&prompt=Tell%20me%20more%20about%20cash%20shortfall.), which is the amount by which the [desired ending cash balance](poe://www.poe.com/_api/key_phrase?phrase=desired%20ending%20cash%20balance&prompt=Tell%20me%20more%20about%20desired%20ending%20cash%20balance.) exceeds the sum of [cash receipts](poe://www.poe.com/_api/key_phrase?phrase=cash%20receipts&prompt=Tell%20me%20more%20about%20cash%20receipts.) and cash expenses:
Cash shortfall = [Desired ending cash](poe://www.poe.com/_api/key_phrase?phrase=Desired%20ending%20cash&prompt=Tell%20me%20more%20about%20Desired%20ending%20cash.) balance - (Cash receipts - Cash expenses)
Cash shortfall = $1000 - ($1230 - $745)
Cash shortfall = $1000 - $485
Cash shortfall = $515
Since the cash shortfall is $515, the firm must take out loans in the amount of $515 to meet its requirements for June. Therefore, the correct answer is option (C) $515.