Business, 21.12.2019 03:31, hviland4371

Blake company has $15,000 cash at the beginning of june and anticipates $50,000 in cash receipts and $34, 500 in cash disbursements. blake company requires a minimum cash balance of $10,000 and maintains no more than $20,000 on hand. any excess cash over the maximum is used to pay down debts. the firm has an agreement with its bank to borrow as needed or repay loans as funds become available. as of may 31, the company owes $15,000 to the bank. the balance of the loan on june 30 will be:

a. $19, 500
b. $9, 500
c. $15,000
d. $4, 500

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Blake company has $15,000 cash at the beginning of june and anticipates $50,000 in cash receipts and...