As of the beginning of the quarter, Callahan's had a cash balance of $710. During the quarter, the company collected $1,860 from customers and paidsuppliers $1,520. The company also paid a loan payment of $320 and a tax payment of $510. What is Callahan's cash balance at the end of the quarter?Multiple ChoiceOO$290$110$220$90$150

Company have to maintain optimal cash balance so that there is no problem in doing payments on time.

Answered: Multiple Choice $290 $110 $220 $90

Business

Finance

Multiple Choice $290 $110 $220 $90

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 2P: Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers...

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Question

As of the beginning of the quarter, Callahan's had a cash balance of $710. During the quarter, the company collected $1,860 from customers and paid
suppliers $1,520. The company also paid a loan payment of $320 and a tax payment of $510. What is Callahan's cash balance at the end of the quarter?
Multiple Choice
O
O
$290
$110
$220
$90
$150

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