The Following Information Was Taken from Southgate Industry's Cash Budget

question 66

Multiple Choice

The following information was taken from Southgate Industry's cash budget for the month of July: $\begin{array}{lr}\text { Beginning cash balance } & \$ 480,000 \\\text { Cash receipts } & 304,000 \\\text { Cash disbursements } & 544,000\end{array}$ If the company has a policy of maintaining a minimum end of the month cash balance of $400,000, the amount the company would have to borrow is

• A)$160,000.
• B)$80,000.
• C)$240,000.
• D)$96,000.

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