Western Company is preparing a cash budget for June. The company has $11,800 cash at the beginning of June and anticipates $30,200 in cash receipts and $34,900 in cash disbursements during June. Western Company has an agreement with its bank to maintain a minimum cash balance of $10,000. As of May 31, the company owes $15,000 to the bank. To maintain the $10,000 required balance, during June the company must: Multiple Choice Borrow $2,900. Repay $2,900. Borrow $10,000. Repay $7,100. Borrow $4,700.

Borrow $2900

Explanation:

To maintain the $10,000 required balance, during June the amount that the company must borrow will be calculated thus:

Firstly, the ending cash balance without considering borrowings will be:

= Beginning balance + Receipts - Disbursements

= $11800 + $30200 - $34900

= $7100

Therefore, to maintain the $10,000 required balance, during June the company must borrow:

= $10000 - $7100

= $2900

The company must borrow $2900

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

i might look it up later.