The following information was extracted from NOVO cash budget for July 2019. The following data are as follows: Excess of cash available over disbursements is P700; cash balance as of July 1, 2019 is P 5,000 and a total cash disbursement for July is P22,500. The business can only borrow in round figures of P1,000 amounts. If the business is required to maintain a minimum cash balance of P100,000, how much money should be borrowed in July?
The following information was extracted from NOVO cash budget for July 2019. The following data are as follows: Excess of cash available over disbursements is P700; cash balance as of July 1, 2019 is P 5,000 and a total cash disbursement for July is P22,500. The business can only borrow in round figures of P1,000 amounts. If the business is required to maintain a minimum cash balance of P100,000, how much money should be borrowed in July?
Chapter7: Budgeting
Section: Chapter Questions
Problem 13EA: What is the amount of budgeted cash payments if purchases are budgeted for $420,000 and the...
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The following information was extracted from NOVO
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