For a Recent Period,a Firm Collected $38,200 on Accounts Receivable,paid

question 29

Multiple Choice

For a recent period,a firm collected $38,200 on accounts receivable,paid $19,700 to suppliers on trade credit,paid $12,000 in cash expenses,purchased for cash a $42,000 piece of equipment that will be depreciated straight-line to zero over 4 years,and had $59,000 of sales of which 15% were cash sales.The firm also paid $13,500 in taxes and interest.The beginning cash balance was $11,300.How much did the firm need to borrow in order to maintain a minimum cash balance of $10,000?

• A) $38,850
• B) $37,550
• C) $7,350
• D) $30,000

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Definitions:

Physical Intimidation

The use of threats, presence, or actions that instill fear in individuals, often employed to influence behavior or decisions without physical contact.

Strikes

A form of protest where workers refuse to work, aiming to pressure employers into meeting their demands regarding pay, conditions, or rights.

Boycotts

A method of protest where individuals refuse to buy goods from, or deal with, a company or country as a form of political pressure or social punishment.

Ethics of Liberty

Philosophical principles that emphasize personal freedom and the moral importance of respecting individual rights.