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Santos Company is preparing a cash budget for February. The company has $ 16,000 cash at the beginning of February and budgets $69,000 in cash receipts from sales and $111,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $5,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.)

Santos Company is preparing a cash budget for February. The company has $ 16,000 cash at the beginning of February and budgets $69,000 in cash receipts from sales and $111,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $5,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Santos Company is preparing a cash budget for February. The company has $ 16,000 cash at the beginning of February and budgets $69,000 in cash receipts from sales and $111,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $5,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.)
Transcribed Image Text:Santos Company is preparing a cash budget for February. The company has $ 16,000 cash at the beginning of February and budgets $69,000 in cash receipts from sales and $111,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $5,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.)
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