Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 6 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 22 Jul 2017 My Price 3.00

Fabrice Corp

Fabrice Corp. requires a minimum $6,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Any excess cash is used to repay loans at monthend. The cash balance on October 1 is $6,000 and the company has an outstanding loan of $2,000. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Prepare a cash budget for October, November, and December. Round interest payments to the nearest whole dollar.

 

October

November

December

Cash receipts              

$22,000

$16,000

$20,000

Cash disbursements        

24,000

15,000

16,000

 

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 10:07 PM My Price 3.00

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