Question
Linden company's goal is to have an ending cash balance each month of $100,000. For October,...
Linden company's goal is to have an ending cash balance each month of $100,000. For October, you had to borrow $14,000 to meet this goal. For the current month (November), you have a net cash flow of-$28,000. What is your cumulative borrowing for October and November given Linden's company's goal? Enter your answer accurate to the nearest dollar)
Answers
Cumulative borrowing = Borrwoing in October + Borrowing in November
Borrwoing in October = $14,000
Borrowing in November = Cash balance at the end of November - net cash flow in November
Borrowing in November = 100,000 - (-28,000)
Borrowing in November = $128,000
Cumulative borrowing = 14,000 + 128,000
Cumulative borrowing = $142,000
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