Jaborosa, Inc., a merchandising company, has provided the following budgeted amounts for the next budget period. Beginning cash balance $30,300 Cash collections 681,000 Payments for Purchases of merchandise inventory 349,200 Selling and administrative expenses 70,500 Capital expenditures 308,600 A minimum cash balance of $30,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the needed funds at the end of the period. Calculate the ending cash balance for the budget period

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Jaborosa, Inc., a merchandising company, has provided the following budgeted amounts for the next budget period.
Beginning cash balance
$30,300
Cash collections
681,000
Payments for
Purchases of merchandise inventory
349,200
Selling and administrative expenses
70,500
Capital expenditures
308,600
A minimum cash balance of $30,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the
needed funds at the end of the period Calculate the ending cash balance for the budget period.
Transcribed Image Text:Jaborosa, Inc., a merchandising company, has provided the following budgeted amounts for the next budget period. Beginning cash balance $30,300 Cash collections 681,000 Payments for Purchases of merchandise inventory 349,200 Selling and administrative expenses 70,500 Capital expenditures 308,600 A minimum cash balance of $30,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the needed funds at the end of the period Calculate the ending cash balance for the budget period.
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