26. A hospital has provided you with the following budget information for April Cash collections P876,000 April 1 cash balance 23.000 Cash disbursements 978,600 The hospital has a policy of maintaining a minimum cash balance of P20,000 and borrows only in P1,000 increments. How m

26. A hospital has provided you with the following budget information for April Cash collections P876,000 April 1 cash balance 23.000 Cash disbursements 978,600 The hospital has a policy of maintaining a minimum cash balance of P20,000 and borrows only in P1,000 increments. How m

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

26. A hospital has provided you with the following budget information for April
Cash collections P876,000
April 1 cash balance 23.000
Cash disbursements 978,600
The hospital has a policy of maintaining a minimum cash balance of P20,000 and borrows
only in P1,000 increments. How much will the hospital borrow in April?
a. P80,000
b. P79,600
c. P99,000
d. P100,000

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