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Title: Mealer, Inc. has prepared its third quarter budget and provided the following data:JulAugSepCash ... Post by: Deprecated on Sep 20, 2016 Mealer, Inc. has prepared its third quarter budget and provided the following data:
Jul Aug Sep Cash collections $51,000 $39,500 $46,600 Cash payments: Purchases of direct materials 31,000 21,500 17,000 Operating expenses 12,000 9,000 11,300 Capital expenditures 13,500 24,600 0 The cash balance on June 30 is projected to be $4,500. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 4%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. Calculate the final projected cash balance at the end of September. A) $21,584 B) $6,584 C) $54,967 D) $8,367 Title: Re: Mealer, Inc. has prepared its third quarter budget and provided the following data:JulAugSepCash ... Post by: .unplugged. on Sep 20, 2016 Content hidden
Title: Re: Mealer, Inc. has prepared its third quarter budget and provided the following data:JulAugSepCash ... Post by: Deprecated on Oct 12, 2016 This was certainly a tough question, loving the expertise
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