Question

On January 1, Kale Company has a beginning cash balance of $42,000. During the year, the company expects cash disbursements of $340,000 and cash receipts of $290,000. If Kale requires an ending cash balance of $40,000, the company must borrow:_____

Answer 1

See below

Step-by-step explanation:

Given the above information,

= $340,000 - $42,000

= $298,000

Then,

= $298,000 - $290,000

= $98,000